Bank of Baroda has executed a Share Purchase Agreement for sale of its entire equity stake of 4.90% in Petronet MHB for cash consideration of Rs 52.56 crore. Petronet MHB provides petroleum product transportation facility through its network of pipelines from Mangalore Refinery (Mangalore) to Oil Marketing Company Terminals at Hassan & Devangonthi (Bangalore). The said transaction is expected to be completed by Q4FY2020.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
