Oil Minstry blocks PSUs from buying Gujarat Gas stake
Gujarat State Petroleum Corp (GSPC) going solo in acquisition of British energy major BG Group's stake in Gujarat Gas Co Ltd (GGCL) was a result of Oil Ministry blocking its PSUs from joining the Gujarat government firm.
Originally, a consortia of GSPC, Oil and Natural Gas Corp (ONGC) and Bharat Petroleum Corp Ltd (BPCL) was to buy 65.12 per cent stake in the nation's biggest private gas distributor. BG Group too had shortlisted GSPC-ONGC-BPCL as a consortia for the stake sale.
Publication Date:
25/10/2012