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Cabinet approves sale of 24% equity holding in Lubrizol India Private Limited by Indian Oil to Lubrizol Corporation, USA

Delhi 

Cabinet approves sale of 24% equity holding in Lubrizol Private Limited by Indian to Lubrizol Corporation,

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister ShriNarendra Modi todaygave its in-principle approval topermit Indian Corporation Limited (Indian Oil) to sell its 24% equity in one of its Joint Venture Companies, M/s. Lubrizol Private Limited (LIPL) to Lubrizol Corporation, (LC), the other Joint Venture Partner.

The sale will enable IOC to have long term association with its joint venture partner and thus LIPL to have access to the latest global additive technologies developed by Lubrizol Corporation,

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 15 2017. 20:20 IST