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Hindustan Petroleum (HPCL) to acquire 2.5% stake in Oil India (OIL) from Government of India

Aug 25, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

The Government of India has agreed to sell a 2.5% stake in Oil India Limited (OIL), an oil and gas exploration and production company, to Hindustan Petroleum Corporation Limited (HPCL), an India-based oil and gas refining and marketing company.

Earlier on November 30, 2007, HPCL has agreed to acquire a 2.5% stake in OIL. The transaction was postponed after IOL's IPO deferred. 

Deal Type    Acquisition
Sub-Category Minority Acquisition
Deal Status  Announced: 2009-08-24

Deal Participants 

Target (Company)   Oil India Limited
Acquirer (Company) Hindustan Petroleum Corporation Limited
Vendor (Company)   The Government of India

% Acquisition 2.5%

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX


Related terms: acquisition, exploration, government, india, ipo, marketing, oil, oil and gas, petroleum

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