State-owned Saudi Aramco may be in the fray to buy out Indian government’s stake of Bharat Petroleum Co. ltd, as it gives the oil giant an opportunity to pierce into one of the world’s biggest oil retail markets, sources privy to the matter said.
The Indian government is looking at selling its 53.29 percent stake in BPCL to a strategic investor in the biggest privatisation bid in the history of India. It aims to garner 1.05 lakh crore in divestment proceeds which includes privatisation of BPCL, Container Corp of India and Shipping Corp of India.
Sources said Aramco currently is evaluating its Indian investments, including its possible partnership with Reliance India Ltd, and views buying out BPCL as a good opportunity.
Sources said that the Aramco’s is currently evaluating the BPCL bid and it is at an early stage of consideration. Read More
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