Vedanta submits EoI for BPCL, other players in race
NEW DELHI: Minerals major Vedanta on Wednesday confirmed that it has put in a preliminary expression of interest (EoI) regarding buying the Centre’s majority stake in Bharat Petroleum Corp Ltd (BPCL). According to government sources, a foreign bidder is also in the race for the oil marketing company. Officials say that a special purpose vehicle has been floated by BSE-listed Vedanta Ltd.
“Vedanta’s EoI for BPCL is to evaluate potential synergies with our existing oil and gas business. The EoI is at a preliminary stage and exploratory in nature,” the company said in a statement. According to official sources, the government has received around 3-4 EoIs for the OMC and the second stage of the disinvestment process will now begin.
