 "Essar")
Two Essar group firms — one in the oil refinery business and the other in steel — have missed the March-end deadline to sell stakes, putting pressure on the promoters as well as lenders to bring the financial metrics of the group back on track in the new financial year.
On Friday, the Essar group said its $13-billion stake sale deal in profit-making Essar Oil to Russian oil major Rosneft would take more time and go beyond the March 31 deadline set earlier.
At the same time, bankers said, private equity firm Farallon Capital’s plan to pick a
On Friday, the Essar group said its $13-billion stake sale deal in profit-making Essar Oil to Russian oil major Rosneft would take more time and go beyond the March 31 deadline set earlier.
At the same time, bankers said, private equity firm Farallon Capital’s plan to pick a
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