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BPCL to acquire stake of other shareholders in Bharat Oman Refineries Ltd

BPCL to acquire stake of other shareholders in Bharat Oman Refineries Ltd Posted On: 2020-12-17 06:36:15 (Time Zone: Arizona, USA) The Board of Directors of Bharat Petroleum Corporation Limited (BPCL) at the meeting held on 17th December 2020 has accorded its approval for acquisition of 888,613,336 (36.62%) of equity shares in Bharat Oman Refineries Ltd (BORL) from OQ S.A.O.C. (formerly known as Oman Oil Company S.A.O.C) subject to the finalization of definitive agreement between parties, the approval of the competent authorities and completion of Regulatory and other requirements. The Board of Directors has also approved the proposal to approach Government of Madhya Pradesh (GoMP) for acquiring 269,00,000 warrants held by GoMP in BORL.

BPCL Board approves acquisition of 36 62% stake in Bharat Oman Refineries

At meeting held on 17 December 2020The Board of Bharat Petroleum Corporation at its meeting held on 17 December 2020 has accorded its approval for acquisition of 888,613,336 (36.62%) of equity shares in Bharat Oman Refineries (BORL) from OQ S.A.0.C.(formerly known as Oman Oil Company S.A.O.C) subject to the finalization of definitive agreement between parties, the approval of the competent authorities and completion of Regulatory and other requirements. The Board of Directors has also approved the proposal to approach Government of Madhya Pradesh (GoMP) for acquiring 269,00,000 warrants held by GoMP in BORL. BORL was incorporated on 25 February, 1994. The Authorised share capital of BORL is Rs. 7000 crore and paid up share capital is Rs. 2426.83 crore. BPCL holds 63.38% of the paid up share capital of BORL

Stocks in focus: BPCL, M&M, HDFC, Punjab National Bank, Axis Bank, Future Enterprises

Stocks in focus: BPCL, M&M, HDFC, Punjab National Bank, Axis Bank, Future Enterprises
financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.

BPCL to consider 100% ownership of Bina refinery

BPCL to consider 100% ownership of Bina refinery FE Bureau © Provided by The Financial Express The BPCLstock closed at Rs 398.7 on the BSE on Tuesday, falling 1.74% over Monday s closing. Clearing the decks for the privatisation process, state-run oil refiner and marketer BPCL on Tuesday said the company’s board would on Wednesday take a call on buying a 36.6% equity share in Bharat Oman Refineries (BORL) - the unit that runs the 7.8 million tonne Bina refinery - from OQ S.A.O.C (formerly known as Oman Oil Company). BPCL already owns the majority 63.4% stake in BORL. Sector experts believe the acquisition of the remaining stake will smoothen the divestment process of the government’s 52.98% stake in the oil marketing firm.

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