HPCL may acquire Mangalore Refinery and Petrochemicals Ltd in a cash and share- swap deal to become India’s third-largest oil refiner, a top official said.
Oil and Natural Gas Corp (ONGC), India’s biggest oil and gas producer, last week announced acquisition of HPCL for Rs 36,915 crore. After this takeover, ONGC has two refining subsidiaries – HPCL and MRPL.
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