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Cabinet approves 24 percent equity holding in LIPL to LC

ANI  |  New Delhi [India] 

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Modi today gave its in-principle approval to permit the Indian Corporation Limited (IOCL) to sell its 24 percent equity in one of its Joint Venture Companies, Lubrizol Private Limited (LIPL) to its other joint venture partner Lubrizol Corporation, (LC).

The sale will enable the to have long term association with its joint venture partner and thus, the 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. 21:00 IST