November 17, 2020 3:46:10 am
The federal government has obtained a number of expressions of curiosity (EoIs) for the strategic sale of Bharat Petroleum Company Ltd (BPCL), the Finance Ministry stated on Monday — the final day for submission of presents by potential bidders for the federal government’s 52.98 per cent stake within the nation’s second-largest gasoline retailer.
The workplace of Tuhin Kanta Pandey, Secretary, Division of Funding and Public Asset Administration (DIPAM), tweeted that “a number of expressions of curiosity have been obtained by the Transaction Advisor” for the strategic disinvestment of BPCL, including that the transaction would transfer to the following stage after scrutiny by the transaction advisor.
Deloitte Touche Tohmatsu India LLP has been appointed the transaction advisor. DIPAM didn’t nonetheless specify which firms had submitted the EOIs.
Finance Minister Nirmala Sitharaman tweeted that the disinvestment means of BPCL had progressed and was shifting to the second stage after the federal government had obtained a number of EoIs.
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