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Board of Engineers India approves proposed acquisition of stake in Numaligarh Refinery

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At meeting held on 18 February 2021

The Board of Engineers India (EIL) at its meeting held on 18 February 2021 has approved submission of a bid by EIL (minority stake), in consortium with Oil India (OIL) (i.e., the lead member) (and if successful), entering into a Share Purchase Agreement (SPA) for the proposed acquisition along with OIL (which will also be a party to the SPA) of collectively up to 61.65% of the share capital of Numaligarh Refinery (a company primarily engaged in the business of refining of petroleum products) from Bharat Petroleum Corporation.

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First Published: Feb 19 2021 | 9:50 AM IST

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