Trafigura announces exit from Nayara Energy; to sell stake to Italy's Genera Group

Oil trader Trafigura has agreed to sell its 24.5 per cent indirect stake in Nayara Energy to Italy's Genera Group, the company said Wednesday.

The company, however, did not disclose the financial details of the transaction.

The Italian group will acquire the stake via a special purpose vehicle, Hara Capital Sarl, incorporated in Luxembourg.

Nayara Energy owns India's third largest refinery, a port, and a network of more than 6,500 petrol pumps across the country.

The firm is majority owned by Russia's Rosneft.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)