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Further to the FTSE notice released on 19 February 2014, FTSE has noted the announcement by Essar Global Fund Ltd (EGFL) on 14 March 2014 confirming an offer by Energy Bidco Holdings Ltd, an indirect wholly-owned subsidiary of EGFL, for the minority shares in Essar Energy PLC (Essar Energy).
In light of this further development, the deadline for Essar Energy to meet FTSE’s minimum free float rule will continue to be suspended pending the outcome of the offer.
Once the outcome of the offer has been confirmed, FTSE will issue a further notice with regard to Essar Energy’s future eligibility for inclusion in the FTSE UK Index Series.
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