Essar Oil has finished delisting its shares from the Indian stock exchange for $564million.
The company is India’s second largest non-state refiner in the country.
Its founders, the billionaire Ruia brothers, acquired 101million shares of the 142.5million held by the public for 262.80 rupees a share.
The move comes after Rosneft signed a 10-year deal in July to acquire a 10-year crude supply pact and a non-binding memorandum to buy a 49% stake in Essar Oil.
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