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Centre's strategic BPCL divestment may trigger bidding war among firms

The Centre on Wednesday decided to go for sale of its entire 53.29 per cent stake and transfer of management control in BPCL to a strategic buyer

Shine Jacob  |  New Delhi 

With the Centre deciding to go for a strategic sale of its entire stake in Bharat Petroleum Corporation (BPCL), speculations are rife about aggressive bidding by international majors. Companies such as Saudi Aramco, French major Total, BP Plc, ExxonMobil, Reliance Industries (RIL), and Adani Group are all likely frontrunners for BPCL.

State-run Indian Oil Corporation (IOC) may also be keen on increasing its market share through the acquisition of its peer. “The advantages of each one of them buying BPCL may be different. For example, the strength of Saudi Aramco will be the synergy it ...

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First Published: Thu, November 21 2019. 02:43 IST
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