Hindustan Petroleum Corporation (HPCL) has entered into a Share Purchase Agreement (SPA) for acquisition of shares of HPCL Shapoorji Energy, an Associate Unlisted Company of HPCL, from S P Ports, a Joint Venture Partner. The LNG Terminal Project of the Target Entity is expected to bring long-term value to the company being a growing segment of the energy basket of the nation. The acquisition is expected to be completed by March 31, 2021.
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.
