ONGC to acquire govt's 51.11% in Hindustan Petroleum Corp for 36,915 crore
Authored By Wion Web Desk
Published: Feb 12, 2018, 06:26 IST | Updated: Feb 12, 2018, 06:26 IST
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ONGC will get hold of the government's 51.11 per cent stake in refiner and marketer HPCL for Rs 36,915 crore
The Government of Indiahas entered into an agreement with Oil and Natural Corporation (ONGC) for sale of its 51.11 per centequity shareholding in Hindustan PetroleumCorporation 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.
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The agreement will help the government meet half its disinvestment target through a single share sale.