M&A

M&A

Trafigura in talks to sell stake in Nayara Energy to Italian co.

Business Line  

Swiss multinational commodity trading company Trafigura is preparing to sell its 24.5% indirect stake in Nayara Energy, a joint venture with Russia's Rosneft, to Italy-based Genera Group Holding SPA. Trafigura holds the stake in Nayara Energy - which owns India's third largest oil refinery, a port and a network of more than 6,000 fuel stations across India - indirectly through its holding in Singapore-based Tendril Ventures.