Vedanta to raise $8 bn for BPCL bid
Billionaire Anil Agarwal’s Vedanta group plans to raise as much as $8 billion through a mix of debt and equity to secure funds for the acquisition of state-run Bharat Petroleum Corp. Ltd (BPCL), two people directly aware of the talks with investors and banks said.
London-based Vedanta Resources Plc has initiated talks with a clutch of banks to tie up the funds, the people said, seeking anonymity as the discussions are private.
“The talks are currently on to appoint an anchor bank for the purpose and discussions with JP Morgan are at an advanced stage,” said one of the two people.
