For consideration of Rs 2399.26 cr
Bharat Petroleum Corporation has finalized commercial terms in connection with the purchase by BPCL of the 888,613,336 equity shares of Bharat Oman Refineries (BORL), constituting 36.62% of the equity share capital of BORL (on a non-diluted basis) from OQ S.A.0.C. (formerly known as Oman Oil Company S.A.0.C.) (OQ), for a consideration of approx. Rs 2,399.26 crore and is in the process of agreeing to definitive documentation with OQ.Upon completion of the above purchase. BPCL will hold 100% of the equity share capital (on a non-diluted basis) in BORL.
It may also be noted that Government of Madhya Pradesh holds 26,900,000 convertible share warrants in BORL.
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