Genera's plans to buy Trafigura stake in Nayara face uncertainty

The plans of Italy's Genera group to buy Amsterdam-based Trafigura's 24.5 per cent stake in Nayara Energy have been pushed by the economic uncertainty caused by the near three month old war in Ukraine. In November last year, Genera sought permission from the Competition Commission of India to acquire Trafigura's stake for an undisclosed amount. A banker close to the development said that the subsequent war in Ukraine has changed Genera group's plans. With the war, the chances of a Western company buying a stake in Nayara is very difficult. Business Standard has always tried to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has made our resolve and commitment stronger. Even during the difficult times arising out of Covid- 19 we continue to keep you informed and informed with credible news, authoritative views and incisive commentary on topical issues of relevance.

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