Oil & Natural Gas Corporation Ltd.

ONGC may acquire the West Bengal Government’s stake in Haldia Petrochemicals (HP), given that State Government has recently invited expressions of interest for HP stake sale. The state government, seeking to exit HP, had invited expressions of interest for selling 39.99 per cent equity in HP, through Deloitte Touche Tohmatsu India. Deloitte is the transaction advisor and the manager of the disinvestment process to the state’s apex industry promotion agency.

However, West Bengal Government’s plan to exit could run into rough weather with two companies belonging to The Chatterjee Group (TCG) issuing a public notice cautioning any person submitting an expression of interest.