The Freshfields team was led by London Corporate partner Sam Newhouse.

Freshfields Bruckhaus Deringer LLP (“Freshfields”) has advised Essar Energy Holdings Limited, Mauritius in relation to its US$12.9 billion sale of 98 per cent of Essar Oil. Essar Oil is to sell 49 per cent to Rosneft, and a further 49 per cent to a consortium of international investors, including Trafigura and UCP. The transaction is subject to receipt of the necessary regulatory approvals and other customary conditions.

The deal will be the single largest tranche of foreign direct investment in India. Essar Oil operates India’s second largest refinery and largest private sector oil retail network. The transaction will also include the Vadinar port and related infrastructure.

The Freshfields team was led by London Corporate partner Sam Newhouse.

Freshfields provided English law advice in relation to the transaction.