Essar officially exits London

After four years on the market and an 83 per cent fall in value, shares in Essar Energy were officially removed from the London Stock Exchange yesterday. The Financial Conduct Authority confirmed the exit of the India-focused oil and gas explorer from the UK market following a takeover by Essar Global Fund, its biggest shareholder. The take over offer closed last week with 95.98 per cent of the other investors accepting the bid.