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Industrial Products India, Industrial Manufacturers & Suppliers
 




 
   
 
 
 

Essar Energy completes Stanlow ...

Essar Energy completes Stanlow acquisition

Essar Energy plc on Monday announced that it had completed the acquisition of Birtain's Stanlow Oil Refinery for $350 million. Essar had bought the refinery from Royal Dutch Shell.

“The consideration for the acquisition of Stanlow is payable to Shell in two instalments. The first instalment was paid on completion of the acquisition. The second instalment of $175 million, plus interest at the rate of LIBOR (London Inter-Bank Offered Rate) plus 4 per cent, is payable on the date of the first anniversary of completion. “A separate payment of $916 million has been made to Shell for the stock of crude oil, refined products and certain other inventory items on the Stanlow refinery site,” it said.

 
     
 
   
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