Essar Energy Holdings Ltd (EEHL) and Oil Bidco (Mauritius) Ltd (OBML), the promoters of Essar Oil Ltd (EOL), announced that they will pay to former minority shareholders, who tendered EOL shares in the Delisting Offer, an additional amount of Rs 75.48 per share, based on the current closing numbers, following the closure of the sale transaction with Rosneft and the Trafigura-UCP consortium.
The payment of around Rs 880 crore will be in addition to the Rs 3,064 crore that OBML had paid to the minority shareholders following EOL’s delisting in 2015. Shashi Ruia, Founder, Essar said, “We have always believed in creating value for all our shareholders. I am extremely happy with this outcome where we could maximise returns for our shareholders who had invested and believed in us.”
The Promoters will shortly issue a public notice in this regard and as committed in the Delisting Offer of December 2015, the additional payout will be made within two months thereafter
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