Within days of Essar Group signing a mega USD 12.9-billion asset sale in its oil business, three top lenders -- ICICI Bank, Axis Bank and StanChart -- have got back an estimated USD 2.5 billion as part of the first payment for their debt exposure to the Ruias-led conglomerate.
3.54 PM Oct 22nd
ICICI Bank surged over 4% on expectations that it would receive its due after the Essar group last week signed a binding agreement with Russia s Rosneft, United Capital Partners and Trafigura Group Pte. to sell 98% in its most priced asset, the 20 million tonnes per annum Vadinar refinery
4.27 PM Oct 20th
the essar oil debt also, the figure is small and not as markets jumped into becoz only half of the money is repaid to banks. so the euphoria may die down tomorrow. however, if other assets of essar group like the refinery in uk, cbm blocks in india, power and steel ventures etc. are also sold, then banks
10.33 PM Oct 18th
Look at Essar Ports after they delisted. Demerger has resulted in shareholders being allotted shares in other Essar group companies. As regulatory bodies come out with strong decisions, holding cos. may eventually have to demerge split holdings to share holders.
3.17 PM Oct 18th
Banknifty can cheer for this news. essar group ceo stated that even after the sale of refinery and its captive port and power plant to russian owners, essar group still owns a refinery in UK and few CBM blocks in india. besides, it has steel and power plants. lenders consortium led by icicibank can
10.38 PM Oct 17th
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