The government is selling its entire 52.98 per cent stake in BPCL for which three expressions of interest (EoIs), including one from billionaire Anil Agarwal-led Vedanta Group, have been received
The fund will be made up of its own resources and outside investment, Vedanta Chairman Anil Agarwal says, adding that it may also finance the BPCL acquisition through debt
The financial bids have not yet been called, and we have just three months left. Given BPCL’s borrowings, it will need approval from lenders (long-term agreements have a clause that requires lenders’ approval for promoter changes), which would take a few months, said an officials, who is tracking the sale
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Bharat Petroleum to sale its equity in Numaligarh Refinery
Privatisation bound public sector refiner Bharat Petroleum Corporation Ltd (BPCL) said on Monday that its board has approved the proposal for sale of the company s equity shares in the Numaligarh Refinery Ltd (NRL) to a consortium of Oil India Limited and Engineers India Limited, along with the government of Assam.
BPCL is selling its entire shareholding of 61.65 per cent in NRL to the consortium as part of its sell-off process that mandated separation of the Assam-based refinery before the strategic sale.
As per the information shared with the stock exchanges, BPCL said that in case the government of Assam doesn t participate in the purchase of shares in NRL, its entire shareholding will be sold to the consortium.