ONGC to acquire govt's 51.11% in Hindustan Petroleum Corp for 36,915 crore
The agreement will help the government meet half its disinvestment target through a single share sale. Photograph:( Others )
The Government of India has entered into an agreement with Oil and Natural Corporation (ONGC) for sale of its 51.11 per cent equity shareholding in Hindustan Petroleum Corporation Limited.
After the agreement, ONGC will get hold of the government's 51.11 per cent stake in refiner and marketer HPCL for Rs 36,915 crore.
Government of India has entered into an agreement with ONGC today for strategic sale of its 51.11% equity share-holding in HPCL at a consideration of Rs. 36,915 crores : Ministry of Finance.
— ANI (@ANI) January 20, 2018
The agreement will help the government meet half its disinvestment target through a single share sale.
