Vedanta Group confirmed on Wednesday that it had submitted a preliminary expression of interest (EoI) to buy the government’s stake in Bharat Petroleum Corp Ltd (BPCL).
Vedanta’s interest in India’s second-largest fuel retailer is due to synergies with its current oil and gas business.
The government is selling its entire 52.98 percent stake in BPCL and the last date to post the EoI was November 16.
“Vedanta’s EoI for BPCL is to assess potential synergies with our current oil and gas business,” the company spokesperson said in a statement. “The EoI is in a preliminary stage and exploratory in nature.”
At the closing of the tender, the government had declared that “multiple” EIs had been received. However, it did not reveal the identity of the bidders.
(Business Standard staff may have only modified the title and image of this report; the rest of the content is automatically generated from a syndicated feed.)
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