Hindustan Petroleum Corporation (HPCL) has entered into a Share Purchase Agreement for acquisition of shares of Petronet MHB, an associate unlisted company of HPCL. This acquisition will open up possible opportunities for synergy, better cost economics and revenue maximization.
The acquisition is expected to be completed during the quarter ending March 31, 2020. The cost of acquisition to Company is approximately Rs. 185.38 crore.
Hindustan Petroleum Corporation operates two major refineries producing a wide variety of petroleum fuels and Specialties. The Company also owns and operates the largest lube refinery in the country producing lube base oils of international standards.
