MUSCAT: India’s Bharat Petroleum Corporation Ltd (BPCL) has acquired Oman’s OQ’s 36.62% stake in Bharat Oman Refineries Limited (BORL).
OQ signed a sales purchase agreement with BPCL on Wednesday, the company said in a statement. According to sources, the stake has been purchased at OMR 120 million.
“To help drive our businesses towards creating better value from local & international #investment portfolio, we signed a Share Purchase Agreement #SPA with Bharat Petroleum Corporation Limited @BPCLimited to sell our 36.62% share in Bharat Oman Refineries Limited (BORL),” the statement said.
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