Vedanta Group Expresses Interest In Buying Government's Stake In BPCL
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Vedanta Group Expresses Interest In Buying Government's Stake In BPCL

Newsdesk |
November 18, 2020

Vedanta Ltd, the billionaire Anil Agarwal-controlled metals-to-oil conglomerate, said on Wednesday it was interested in buying the government's stake in the state-run Bharat Petroleum Corp Ltd, India's largest fuel retailer. “Vedanta's expression of interest (EoI) for BPCL is to evaluate potential synergies with our existing oil & gas business," the company said in a statement, adding that The EoI was at a "preliminary stage and exploratory in nature."


New Delhi, 18 November 2020

As per news report of NDTV, the government, which is looking to finance welfare schemes and bridge a fiscal deficit that has already topped the annual target, had aimed to raise $8 billion to $10 billion through the sale of its stake in BPCL. But BPCL's share price has plunged by nearly a fourth over the past year.

Source -NDTV


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