Oil and
Natural Gas Corp. Ltd (ONGC), India’s biggest oil and gas producer, last
week announced acquisition of HPCL for Rs36,915 crore.
ONGC has entered into a share purchase agreement with the President of India for acquiring the 778,845,375 equity shares of HPCL (representing 51.11 per cent of HPCL) on January 20, 2018. The transaction is expected to be completed before January 2018 end
The deal consideration of Rs473.97 per share, amounting to Rs36,915 crore that ONGC will shell out for a 51% stake in HPCL
The acquisition price is at a 13.8% premium to HPCL’s closing share price on Friday Jan 19,2018
After this takeover, ONGC has two refining subsidiaries—Hindustan Petroleum Corporation Ltd(HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL)
ONGC has entered into a share purchase agreement with the President of India for acquiring the 778,845,375 equity shares of HPCL (representing 51.11 per cent of HPCL) on January 20, 2018. The transaction is expected to be completed before January 2018 end
The deal consideration of Rs473.97 per share, amounting to Rs36,915 crore that ONGC will shell out for a 51% stake in HPCL
The acquisition price is at a 13.8% premium to HPCL’s closing share price on Friday Jan 19,2018
After this takeover, ONGC has two refining subsidiaries—Hindustan Petroleum Corporation Ltd(HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL)
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