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Which company acquired the government’s entire 51.11% stake in Hindustan Petroleum Corporation Limited (HPCL)?
  • a)
    Bharat Petroleum
  • b)
    Maruti Suzuki
  • c)
    Tata Motors
  • d)
    Reliance
  • e)
    ONGC
Correct answer is option 'E'. Can you explain this answer?
Verified Answer
Which company acquired the government’s entire 51.11% stake in H...
Oil and Natural Gas Corporation (ONGC) announced acquisition of government’s entire 51.11 per cent stake in Hindustan Petroleum Corporation Limited (HPCL). ONGC will pay Rs 473.97 per share for 77.8 crore shares of HPCL held by government. Thus, the deal value stands at Rs 36915 crore. This deal will help Central Government to achieve its annual disinvestment target for the first time ever. It will be an all-cash deal and is expected to be completed by end of January 2018. ONGC will resort to short-term borrowing for raising funds for this acquisition.
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Which company acquired the government’s entire 51.11% stake in Hindustan Petroleum Corporation Limited (HPCL)?a)Bharat Petroleumb)Maruti Suzukic)Tata Motorsd)Reliancee)ONGCCorrect answer is option 'E'. Can you explain this answer?
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