{"id":417532,"date":"2021-05-29T11:06:52","date_gmt":"2021-05-29T05:36:52","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=417532"},"modified":"2021-05-29T11:53:28","modified_gmt":"2021-05-29T06:23:28","slug":"no-intention-of-selling-stake-in-petronet-igl-says-bpcl","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/no-intention-of-selling-stake-in-petronet-igl-says-bpcl\/","title":{"rendered":"No intention of selling stake in Petronet, IGL, says BPCL"},"content":{"rendered":"<p>Divestment-bound Bharat Petroleum Corporation Ltd (BPCL) said on Thursday it is not considering reducing its stake in Petronet LNG (PLL) or Indraprastha Gas Ltd (IGL) to prevent a new owner from having to make an open offer to minority investors in both companies.<\/p>\n<p>Current Sebi regulations would require that the acquirer of the state-owned refiner make an open offer to minority shareholders of Petronet LNG and IGL due to its promoter status. However, BPCL is working with the government to exempt a new owner from this requirement.<\/p>\n<p>\u201cBPCL has no intention to pare its stake, in either PLL or IGL,\u201d said N Vijayagopal, Director (Finance), BPCL, adding that such a move would lead to value destruction for both BPCL as well as Petronet LNG and IGL.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Divestment-bound Bharat Petroleum Corporation Ltd (BPCL) said on Thursday it is not considering reducing its stake in Petronet LNG (PLL) or Indraprastha Gas Ltd (IGL) to prevent a new owner from having to make an open offer to minority investors in both companies. Current Sebi regulations would require that the acquirer of the state-owned refiner make an open offer to minority shareholders of Petronet LNG and IGL due to its promoter status. However, BPCL is working with the government to exempt a new owner from this requirement. \u201cBPCL has no intention to pare its stake, in either PLL or IGL,\u201d [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-417532","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/417532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=417532"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/417532\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=417532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=417532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=417532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}