InvestorQ : Is it true that global oil companies will also now bid for BPCL?
indhumathi Sayani made post

Is it true that global oil companies will also now bid for BPCL?

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4 months ago
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Some of the major oil giants based out of the Middle East as well as Rosneft of Russia are preparing to make consortium bids for BPCL. Bharat Petroleum, it may be recollected is one of the key strategic sale planned by the government of India in this fiscal year. The government plans to sell its entire 52.98% holding in BPCL and the final price for the deal is yet to be arrived at. There have been some disputes over the control premium.

Currently, as per the latest details available, Vedanta, Apollo Global and I-Squared Capital are in the fray for the stake. While some of the world’s biggest oil companies like British Petroleum, Exon and Royal Dutch Shell had not submitted their EOI before the due date in November last year. However, now the bidding process allows interested oil companies to form a consortium with the 3 qualified bidders. The level of interest remains high for BPCL.

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