The Union Cabinet on Wednesday gave in-principle nod for sale of government’s stake in HPCL to ONGC. ONGC will not have to make open offer post buying 51.11 per cent government stake in HPCL, reported PTI
Cabinet gives in-principle nod for sale of government's stake in @HPCL to @ONGC_ .
— Press Trust of India (@PTI_News) July 19, 2017
ONGC will not have to make open offer post buying 51.11 pc govt stake in @HPCL .
— Press Trust of India (@PTI_News) July 19, 2017
After ONGC buys government stake, HPCL will become a subsidiary of India’s largest oil producer and its board will continue to be in place.
Post @ONGC_ buying govt stake, @HPCL will become subsidiary of India's largest #oil producer; its board will continue to be in place.
— Press Trust of India (@PTI_News) July 19, 2017
ONGC will have to complete the acquisition of HPCL within one year.
