Vedanta has confirmed putting in a preliminary expression of interest (EoI) for buying government's stake in Bharat Petroleum Corp (BPCL). The company's interest in India's second largest fuel retailer is because of synergies with its existing oil and gas business.
The company's EoI for BPCL is to evaluate potential synergies with existing oil and gas business. The EoI is at a preliminary stage and exploratory in nature. The government is selling its entire 52.98 per cent stake in BPCL and last date of putting EoI was November 16.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc leadsilver, copper, iron ore, aluminium and commercial power.
