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Essar Completes Purchase of 50% of Kenya Refineries

Essar Energy Overseas Ltd. signed a share sale and purchase agreement to acquire 50 percent of Kenya Petroleum Refineries Ltd. from Chevron Corp., BP Plc and Royal Dutch Shell Plc, said Kenyan Prime Minister Raila Odinga.

 

Kenya’s government will retain a 50 percent stake in the refining company, Odinga told reporters today in the capital, Nairobi.

 

Source: Bloomberg

 

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