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Multiple Expressions of Interest received for privatisation of BPCL

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New Delhi [India], March 22 (ANI): The government has received multiple Expressions of Interest (EoIs) for privatisation of Bharat Petroleum Corporation Limited (BPCL), and the transaction is in the second stage of the process, Union Minister of State for Finance Bhagwat Kisanrao Karad said on Tuesday.

In a written reply to a question in the Rajya Sabha, Karad said, “transaction advisor appointed for the privatisation of BPCL had informed that multiple Expressions of Interest (EoIs) had been received for privatisation of BPCL”.

The minister further stated that Transaction Advisor is bound by the non-disclosure agreement for not sharing the information relating to bidders during the currency of the process to ensure competitive non-collusive bidding.

On a question of whether the government has a plan in place to ensure the security of jobs of current employees of BPCL, the minister stated that the terms and conditions of the strategic disinvestment in the Share Purchase Agreement suitably address employees’ concerns. (ANI)

This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.

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