Vedanta Floor Places in Expression of Curiosity to Purchase Govt Stake in BPCL

Vedanta Group on Wednesday confirmed placing in a preliminary expression of curiosity (EoI) for getting authorities’s stake in Bharat Petroleum Corp Ltd (BPCL). Vedanta’s curiosity in India’s second largest gasoline retailer is due to synergies with its current oil and gasoline enterprise.

The federal government is promoting its whole 52.98 per cent stake in BPCL and final date of placing EoI was November 16. “Vedanta’s EoI for BPCL is to judge potential synergies with our current oil and gasoline enterprise,” the corporate spokesperson stated in an announcement.

“The EoI is at a preliminary stage and exploratory in nature.” The federal government had on the shut of bidding said that “a number of” EoIs had been acquired. It, nonetheless, didn’t reveal the id of the bidders.