Russia clears ONGC's purchase of Imperial Energy

Nov 07, 2008 01:00 AM

Russia's anti-trust office has allowed Indian energy firm ONGC to buy London-listed, Russia-focused oil firm Imperial Energy, a spokesman for the office said.
India's biggest oil producer agreed the takeover of Imperial for $ 2.6 bn in late August. The deal marks ONGC's second investment in Russia, where the company already has a 20 % stake in the Sakhalin-I oil and gas consortium headed by US major Exxon.

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