BACK IN ACTION

Apr 2003:

Hutchison and Essar Tele merge operations to create a $2-billion mobile telecom company

Nov 2003:

Essar acquires US-based Aegis Communications

Jun 2006:

Essar Steel comes out of CDR

Mar 2007:

Vodafone and Essar agree on telecom partnership after Voda buys out Hutch stake

May-Jun 2007:

Essar Global acquires Canada’s Algoma Steel for ` 7,000 crore

Jan 2008:

Essar acquires 50% stake in Kenyan refinery from Shell, Chevron and BP

Oct 2008:

Essar Telecom Kenya launches services under ‘Yu’ brand

Jun 2009:

African fund invests $93.75 million in Essar Telecom Kenya

April/May 2010:

Essar Energy raises £1.2 billion by diluting 23.2 per cent stake on London Stock Exchange

Aug 2010:

Essar sells telecom tower business to American Tower Corp for ` 2,100 crore

Apr 2011:

Vodafone acquires Essar’s 33 per cent stake for $5 billion (`22,350 crore) in cash

Jun 2011:

Vodafone agrees to spend $460 million more to take care of tax liabilities

Aug 2011:

Essar Energy completes acquisition of Shell UK’s Stanlow refinery for

$350 million Sep 2012:

Supreme Court orders Essar Oil to pay ` 6,169 crore sales tax for delayed construction of refinery

Apr 2013:

Essar Oil exits CDR

Jun 2014:

Essar Oil announces delisting from Indian bourses

Jul 2014:

Sells Aegis USA Inc to Teleperformance for $610 million

Aug 2014:

Essar sells its Kenya telecom services business (Yu Mobile) to Safaricom and Bharti Airtel (Kenya) for $120 million

Dec 2015:

Essar Oil completes delisting at

` 262.80 a share