Vedanta Ltd-Vedanta Resources SPV bids for BPCL
Mining conglomerate Vedanta has put in a preliminary expression of interest (EoI) for buying the government’s stake in Bharat Petroleum Corp Ltd (BPCL), for which a major foreign player too is said to be in race.
A special purpose vehicle floated by the BSE-listed Vedanta Ltd and its London-based parent Vedanta Resources submitted an EoI before the close of deadline on November 16.
“Vedanta’s EoI for BPCL is to evaluate potential synergies with our existing oil and gas business,” the company said in a statement. “The EoI is at a preliminary stage and exploratory in nature.”
Sources in the department handling the sale said the EoI has been put in by a special purpose vehicle or SPV floated by Vedanta Ltd and Vedanta Resources.
