Linklaters has advised Rosneft on the Sale and Purchase Agreement for approximately 49% stake in Essar Oil Limited (hereinafter - “EOL”) from Essar Energy Holdings Limited and its affiliates. Rosneft  Board of Directors unanimously approved the deal on 13th October 2016.

Rosneft acquired 49% of the Vadinar refinery, one of the most sophisticated refinery in the Asia-Pacific region, possessing a complex infrastructure. EOL's business also includes a vast network of 2.7 thousand Essar branded retail outlets across India.

The cost of the acquisition of 100% of EOL’s business by Rosneft and a consortium of international investors (with Trafigura and UCP as its members) is US$12.9bn.

The Linklaters team was led by Corporate partner Savi Hebbur and included Grigory Gadzhiev, Satindar Dogra, Mathew Plaskow, Sushil Jacob, Yohan Liyanage, Sarah Lindley, Philip Richardson and Preeya Takhar. Talwar Thakore & Associates, Linklaters best friend firm in India, also advised Rosneft, with a team led by Corporate partner Kunal Thakore  and included Tejas Adiga and Raghuveer Parthasarthy.