Vedanta Group puts in expression of interest to buy government stake in fuel retailer BPCL

NEW DELHI: Vedanta NSE 5.14 % Resources said it submitted an expression of interest (EoI) for the government’s stake in Bharat Petroleum Corp Ltd, making it one of three likely bidders, according to people with knowledge of the matter. The privatisation of India’s second largest oil refining and marketing company is key to the government’s disinvestment programme for the fiscal year.

“Vedanta’s EoI for BPCL is to evaluate potential synergies with our existing oil and gas business,” a company spokesperson said Wednesday. “The EoI is at a preliminary stage and exploratory in nature.”