June 3, 2017 / 11:09 AM / 4 months ago

Russia's VTB head says all creditors have approved Rosneft-Essar deal

FILE PHOTO - A worker is seen at the central processing facility of the Rosneft-owned Priobskoye oil field outside the West Siberian city of Nefteyugansk, Russia, August 4, 2016. Picture taken August 4, 2016. REUTERS/Sergei Karpukhin

ST PETERSBURG, Russia (Reuters) - All creditors of India’s Essar Oil have given their consent for the company’s takeover by Russian oil major Rosneft (ROSN.MM), the head of Russia’s VTB (VTBR.MM) bank said on Saturday.

Andrei Kostin, whose bank is acting as advisor on the $12.9 billion acquisition, also said the deal would be closed this month, echoing comments made by the head of State Bank of India on Friday.

Reporting by Denis Pinchuk; Writing by Jack Stubbs; Editing by Edmund Blair

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