BPCL acquirer may have to launch open offers for IGL, PLL
On top of this, if the acquirer has to make an open offer for both IGL and PLL, it would have to shell out about Rs 18,000 crore more.
Synopsis
PSU holds 12.5% and 22.5%, respectively, in joint ventures Petronet LNG and Indraprastha Gas
New Delhi: The acquirer of the government’s majority stake in Bharat Petroleum Corp. Ltd (BPCL) may have to launch two open offers apart from the one it will have to compulsorily make to shareholders of the company. BPCL is one of the promoters of joint ventures Petronet LNG (PLL) and Indraprastha Gas Ltd (IGL)--holding 12.5% and 22.5% of these companies, respectively.
The entity that takes over BPCL as part of the privatisation plan will get
