Vedanta Group has put in a preliminary expression of interest (EoI) for buying government’s stake of nearly 53 percent in Bharat Petroleum Corporation (BPCL).
The company’s interest in India’s second largest fuel retailer is because of synergies with its existing oil and gas business. The EoI is at a preliminary stage and exploratory in nature.
The Centre is selling its entire 52.98 percent stake in BPCL and last date of putting EoI was 16 November 2020.
The government has received multiple EoIs for buying out its stake in BPCL. The transaction will move to the second stage after scrutiny by transaction advisor (TA).