HPCL may acquire MRPL in cash, share-swap deal

HPCL may acquire MRPL in cash, share-swap deal

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 […]

ONGC Board Approves HPCL Takeover

ONGC Board Approves HPCL Takeover

The board of state-owned Oil and Natural Gas Corp (ONGC) today gave in-principle approval to acquire governments 51.11 per cent stake in Hindustan Petroleum Corp Ltd, the company said in a regulatory filing.

ONGC, HPCL Remaining Independent Listed Cos Makes Sense; MRPL Merger Good: HPCL CMD

ONGC, HPCL Remaining Independent Listed Cos Makes Sense; MRPL Merger Good: HPCL CMD

In line with government’s intention to create an integrated energy company with interests in exploration, production, refining and marketing of the fuel in both India and abroad, the he Union Cabinet on Wednesday gave an in-principle approval to the proposed acquisition of government’s 51.1% stake in Hindustan Petroleum Corporation (HPCL) by Oil and Natural Gas Corporation (ONGC), paving the way for an Indian oil and gas giant.