The Essar ad is all over the newspapers
ESSAR PRESS RELEASEEssar Oil public shareholders to receive an additional Rs 880 crore or Rs 75.48 per share over delisting price Rosneft and UCP-Trafigura consortium sign agreement to acquire 98% in Essar Oil Share On   Essar Oil Transaction Presentation: Click to download
"I congratulate Essar on the conclusion of the US $12.9 billion Essar Oil deal.An asset, which was truly Made in India, has attracted investment interest from world class entities, demonstrating the spirit of dynamic entrepreneurship in India. I welcome Rosneft, Trafigura and UCP to participate in the India growth story and wish them success."
“Today is a historic day for Indo-Russian economic ties. This transaction reflects the shared vision of two of the world’s most dynamic leaders. I congratulate Rosneft, Trafigura and UCP for investing in a world-class oil business, which we are proud to have built. For Essar, the closure of this landmark transaction ushers in a new phase of growth across our portfolio of businesses that hold great promise in India’s enduring development story.”
“With this deal, we have completed our monetisation and deleveraging programme, which is the largest undertaken by any corporate in recent years. We have substantially deleveraged our Group balance sheet by over Rs 70,000 crore. With the completion of our capex programme, we now look forward to a period of growth in our wider portfolio of businesses.”
“This day marks the beginning of a new chapter for EOL. Together with our partners we intend to support the company to significantly improve its financial performance and, in the medium term, adopt an asset development strategy. The closing of the deal is a remarkable achievement for Rosneft too: the Company has entered the high-potential and fast-growing Asia Pacific market. The acquisition of the stake in the Vadinar refinery creates unique opportunities of synergies with existing Rosneft-owned assets and will help improve efficiency of supply to other countries within the region.”
"With Essar successfully concluding the US$12.9 billion Essar Oil deal, Rosneft and the Trafigura and UCP led consortium will now be an active partner in India's glowing growth story and give a major impetus to India's oil and gas sector in international market. It also symbolizes a unique collaborative partnership with Russia and the fact that India is the most attractive investment destination in the world today. I welcome these great global companies to our country and wish them success in their journey".
“Essar Oil will now be able to take advantage of the strengths of its international investors to further develop and enhance value to this world class asset. Our stake in Essar Oil also complements Trafigura’s growing presence in India at a time when the country’s economic outlook is positive.”
"This is a landmark deal and deserves to be lauded. It reiterates the confidence of long-term foreign investors wanting to partake in the India growth story. It also demonstrates the strong resolve of the Indian and Russian governments in strengthening economic, strategic and diplomatic ties. Essar has brought this challenging deal to its logical conclusion and this will provide the impetus to the group's restructuring and deleveraging endeavours"
“At an enterprise value of US$12.9 billion, this transaction stands out for being the largest ever acquisition in India. At the same time, it is also the largest investment made by Russia anywhere in the world. As one can imagine, given the mouth-watering sums and the number of parties involved, the complexities in getting this deal across the finish line were huge. This deal is a milestone in Essar history and, under Rosneft’s stewardship, the business is poised to move into its next phase of growth. My congratulations to Essar Energy , Rosneft, Trafigura and United Capital Partners and all those who worked so hard to see the deal through to completion and realise the shared vision of all parties involved. JM Financial is proud to be associated with this landmark transaction.”
"This is an outstanding FDI development -- distinctly the largest ever in India under the finest leadership of our Great and Honourable Prime Minister. This also augurs extremely well for further augmentation of India- Russia's reinvigorated economic and trade relations as demonstrated by Rosneft, the second largest sovereign owned petroleum company, making this landmark investment . This is a red letter day in India's foreign investment history and should prove to be an inflection point in further catalysing capital and investment formation in our country !"
"The Essar Oil – Rosneft transaction clearly is a milestone in foreign strategic investment in India. It reinforces India’s status as an attractive destination for investment and acquisition of high quality assets. The monetisation that this transaction achieves will also help in triggering more such transactions and will also help Essar in deleveraging its balance sheet."
"Achieving a successful closing of the deal with a group of strong partners represents an important milestone for Essar Oil. We are confident that together with all the new shareholders - recognized leaders in their industries, we will oversee the growth potential of Essar Oil to increase the long-term value of the company."
“I would like to congratulate the parties on the successful completion of this important milestone transaction. VTB Capital is pleased to have been able to act as financial adviser to Essar Energy on the sale of world-class assets to a strong consortium of investors. India has become a core strategic market for the VTB Group and we look forward to working further with Essar and our broader Indian clients to further expand our franchise in the future.”
"We are happy to be associated with Essar on a truly global sized M&A transaction. This deal has opened up global M&A market for Indian assets. As advisors to Essar Energy, this much talked about deal has been a privileged mandate for Arpwood. What delivered the deal at the end of the day was the quality of the refinery asset and its management and the tenacity of the deal team at Essar Energy. Essar has been known for its ability to create value in diversified businesses and prove the value by attracting investments of historic scale. It's sagacity to monetise its investments at the right time and at the right price to further consolidate its wide portfolio of investments must be lauded."
"We welcome the acquisition of Essar Oil by the Rosneft-led consortium. ICICI Bank has played a key role through the entire process of completion of the transaction since it was announced in October last year. I am delighted to note that the entire ecosystem including the government, regulators, banks and various authorities worked together to complete the deal which is also the largest ever foreign acquisition of an Indian company. The deal also underscores the keenness of foreign investors to enter India, the fastest growing large economy in the world. This transaction reduces ICICI Bank’s exposure to the Essar Group by about 50%."