Global oil majors may join race for BPCL
Global oil majors may be teaming up with investment funds that are already in the race to acquire Bharat Petroleum Corporation Ltd (BPCL NSE 0.84 %), a document detailing steps needed to complete India’s biggest privatisation showed.
Billionaire Anil Agarwal’s Vedanta NSE 1.72 % group as well as two US funds — Apollo Global and I Squared Capital – had last year submitted initial bids to buyout the government’s entire 52.98 per cent stake in India’s third-biggest oil refiner and second-largest fuel retailer.
