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Largest shareholder offers 'modest' premium for Essar Energy stake

Essar Energy Plc said its largest shareholder, Essar Global Fund Ltd, has made a possible offer of 70 pence per share for the 22 per cent stake it does not own in the London-listed oil and gas producer.The proposal outline valued Essar Energy, which is controlled by privately held Indian conglomerate Essar Group, at more than 900 million pounds.Essar Energy said it had constituted an independent committee...
Source : Ndtv |
Category : Others

Essar Energy receives green clearance for Mahan coal block

Essar Energy has received forest clearance for the Mahan coal block in Madhya Pradesh which will feed its proposed 1,200-MW capacity power project."The Ministry of Environment and Forests has given its approval to mine coal from the Mahan coal block in Madhya Pradesh to Essar Energy," the company said in a statement.Essar Power, a unit of Essar Energy, holds a 50 per cent stake in Mahan Coal Ltd, a...
Source : Ndtv |
Category : Others | City : New Delhi

Essar Energy shares up after possible bid approach

proposal from Essar Global Fund included a possible offer of 70 pence per share for the 22 percent stake it does not already own in Essar Energy.Shares in Essar Energy Plc, controlled by India's billionaire Ruia brothers, rose nearly 3 percent on Monday after it received a possible takeover offer from its largest shareholder worth about 900 million pounds ($1.51 billion).The proposal from Essar Global...
Source : The Economic Times |
Category : International

Essar withdraws application for distribution licence in Gurgaon

Essar group company Essar Projects has withdrawn its application from Haryana power regulator for grant of power distribution license in Gurgaon's Municipal Corporation area."The company (Essar Projects) has withdrawn its petition for grant of distribution licensee in Gurgaon," Haryana Electricity Regulatory Commission, Director (Tariff) Sanjay Varma said today.Essar Projects had sought license to...
Source : Ndtv |
Category : Others | City : Chandigarh

No. 1 shareholder offers 'modest' premium for Essar Energy stake

security guard stands next to an Essar Group logo outside the headquarters in Mumbai May 20, 2013.REUTERS - Essar Energy Plc said its largest shareholder, Essar Global Fund Ltd, has made a possible offer of 70 pence per share for the 22 percent stake it does not own in the London-listed oil and gas producer.The proposal outline valued Essar Energy, which is controlled by privately held Indian conglomerate...
Source : Reuters India |
Category : Others

Essar blames Kenya for Mombasa refinery paralysis

India's Essar Energy has blamed Kenya for a part shutdown of the Mombasa refinery, the only one in the region which is now a hot market for hungry international oil traders.The government did not enforce a deal to make local suppliers buy fuel from the plant, Essar said. A Kenyan official said Essar should have informed it of the situation for official action to have been taken.Essar has said it would...
Source : Ndtv |
Category : Others

Essar to withdraw from Kenyan refinery project

Maina Waruru, Nairobi, Oct 13 : After months of controversy and speculation, Indian energy giant Essar Group has announced it is giving up its 50 percent stake in Kenya's oil refinery.Essar said its continued ownership of the Kenya Petroleum Refineries Limited (KPRL) was no longer tenable owing to the huge capital investments needed to continue sustainable operations.Essar's African subsidiary, Essar...
Source : Newkerala |
Category : International

Indian cargo ship detained in Singapore

SINGAPORE: A cargo vessel owned by India's Essar Shipping...
Source : Times Of India |
Category : Headlines

Have significant exposure to Essar group: IDBI Bank

Batra, Dy MD, IDBI Bank, says the bank has significant exposure to Essar group.Quotes...
Source : Yahoo Finance |
Category : Personal Finance