ONGC may acquire HPCL in deal worth around $6.6 billion

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ONGC may buy all of the government’s 51.11 percent stake in Hindustan Petroleum Corporation Ltd (HPCL) and follow it up with an open offer to acquire additional 26 percent from other shareholders of HPCL. The deal for the 77.11 percent stake would be worth Rs 44,000 crore or roughly around USD 6.6 billion at current market prices.
Source: Top News