Oil & Natural Gas Corpn to hike stake in Petronet MHB

To acquire additional 17.28% stake for Rs 185.38 crore

Oil & Natural Gas Corpn has entered into share purchase agreement for acquisition of shares of Petronet MHB, a subsidiary of the company. The acquisition price is approx. Rs 185.38 crore for 9,48,22,632 equity shares or 17.28% stake in the share capital of Petronet MHB. Post acquisition, the company will hold about 49.996% stake in Petronet MHB.

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