Announced
Completed
Financials
Sources
Tags
Majority
Completed
Private
Single Bidder
oil refinery
Acquisition
Friendly
Domestic
India
Oil Refining and Marketing
Synopsis
Bharat Petroleum, the secound largest oil marketing company in India, completed the acquisition of a 36.6% stake in Bharat Oman Refineries, an oil refinery, from OQ, an oil and gas company, for $321m. “With the acquisition of OQ’s entire stake in BORL, BPCL will establish control over BORL. This is expected to bring immense advantages to both the companies in terms of synergies and optimization of returns and will facilitate any future expansion or diversification in Bina," N. Vijayagopal, BPCL Director.
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