Vedanta Group submits expression of interest in purchasing Government of India’s stake in BPCL

vedanta-group-submits-expression-of-interest-in-purchasing-government-of-india’s-stake-in-bpcl

New Delhi: Vedanta Group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying government’s stake in Bharat Petroleum Corp Ltd (BPCL).

Vedanta’s interest in India’s second largest fuel retailer is because of synergies with its existing oil and gas business.

The Government of India is looking to sell its entire 52.98 percent stake in BPCL. The last date to put forward an expression of interest was 16 November.

ing EoI was 16 November.

“Vedanta’s EoI for BPCL is to evaluate potential synergies with our existing oil and gas business,” the company spokesperson said in a statement.

“The EoI is at a preliminary stage and exploratory in nature.”

The government had at the close of bidding stated that “multiple” EoIs had been received.

It, however, did not reveal the identity of the bidders

Times2 Desk
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