REFILE-Ruias offer 70 pence per share for Essar Energy

Fri Mar 14, 2014 2:02pm EDT

March 14 (Reuters) - India's billionaire Ruia family made an offer of 70 pence per share to buy out the minorities in its London-listed Essar Energy.

Essar Global Fund Ltd owns about 78 percent of the India-focused resources company.

Essar Energy's independent directors said last month that an offer of 70 pence per share would undervalue the company.