Indian ONGC to buy majority stake in refiner HPCL for USD5.78 billion

Indian ONGC to buy majority stake in refiner HPCL for USD5.78 billion
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23.01.2018

MOSCOW (MRC) -- India's biggest explorer Oil and Natural Gas Corp (ONGC) has agreed to buy the government's majority stake in state-refiner Hindustan Petroleum Corp for USD5.78 billion, reportedВ Reuters withВ reference to ONGC's statementВ on Saturday. It will pay a premium of about 14 percent on HPCL's current market price for the 51.1 percent stake, the company said in a statement to

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