Deal to result in significant synergies and cost optimisation, says petroleum minister
Pradhan reiterated that the integration of the two companies will be completed in the current FY
Official says the govt's holding is being transferred to another PSU, but ownership isn't changing
At the industry level, the deal will pave way for more consolidation in the sector, analysts say
Govt may seek exemption saying it is restructuring of shareholding not resulting in ownership change