India Set To Finalize $four.5B HPCL Stake Sale To ONGC By Finish 2017

India’s authorities plans to promote by the top of this yr its 51.1 % stake within the third-largest native refiner Hindustan Petroleum Corp (HPCL) to the nation’s largest explorer, state-held Oil and Pure Fuel Company (ONGC), in a deal valued at round US$four.5 billion, Bloomberg reported on Thursday, citing individuals with information of the transaction. The stake sale is a part of India’s plan to create a state-held oil big. In early February this yr, India’s Minister for Finance and Company Affairs, Shri Arun Jaitley,…

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