You are here: Home » News-CM » Companies » News
Business Standard

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

Capital Market 

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.

Powered by Capital Market - Live News

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

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, February 19 2021. 09:50 IST