India, Russia in deal paving way for Rosneft-led group to acquire Essar Oil

The group will acquire Essar Oil ESRO.CL in a deal worth $12 billion to $13 billion, including debt, two sources privy to the deal told Reuters.

Russian lender VTB (VTBR.MM) will give Essar $3.9 billion in credit for debt reconstruction, VTB Chief Executive Andrei Kostin said on Saturday.

(Reporting by Douglas Busvine; Writing by Euan Rocha; Editing by Clarence Fernandez)