The sale transaction of Essar Oil to a consortium of investors, where VTB Capital acted as sole financial advisor to the seller, won in the “M&A Deal of the Year in Asia” nomination by The Banker magazine’s “Deals of the Year 2018” awards. VTB announced its victory on May 4, 2018. The transaction amounted to USD12.9 billion.

The competition’s winners are selected based on a range of criteria, including the complexity of the transaction, its innovativeness, and the deal’s environment.

First deputy president and chairman of VTB Bank’s management board Yuri Soloviev said, “This deal, which became both the largest foreign direct investment in India ever and the largest M&A deal in India on record, is undoubtedly a landmark transaction for the market. We remain very active in the region, offering the best solutions for the company’s clients. VTB Capital’s international expertise allows us to continue executing deals in the most constructive and effective way.”

The Banker, a UK publication established in 1926, is one of the most reputable media in the financial market. It covers main international and economic news and provides analysis of global market trends.