BPCL selloff terms set

BPCL selloff terms set

The Telegraph

An inter-ministerial group has approved the sale bid documents for the privatisation of India's second biggest oil refiner - Bharat Petroleum Corp Ltd (BPCL) - and a notice seeking bids will be issued after a small group of ministers approve it, sources said.

An inter-ministerial group .or IMG, comprising representatives from the ministries of finance, petroleum, law, corporate affairs and department of divestment has approved the expressions of interest (EoI) and preliminary information memorandum (PIM) for the company.

This will now be put up for approval by the Alternative Mechanism, which is essentially a very small group of key cabinet ministers, sources privy to the development said.

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