India to Buy Stake in UAE Oilfield

India to Buy Stake in UAE Oilfield

Indian oil companies could acquire up to 20% of an oilfield belonging to the Abu Dhabi National Oil Company (ADNOC), Utpal Bora, chief managing director of Oil India Limited, said on Thursday.

ABB in talks to buy out L&T’s electrical business

ABB in talks to buy out L&T’s electrical business

ABB, the Swedish-Swiss multinational, is in discussions with Larsen & Toubro to acquire its electrical and automation division. The division that generated revenues of Rs 4,650 crore and operating profit of a little over Rs 700 crore in 2016-17 is expected to be valued at Rs 14,000-18,000 crore, two people familiar with the development told ET.

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