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NCLT approves BPCL’s acquisition of Videocon Oil Ventures for $270-M
Source Economic Times (opens in a new tab)BSE (opens in a new tab)
The National Company Law Tribunal (NCLT), has approved the acquisition of Videocon Oil Ventures Ltd (VoVL) by publicly listed Bharat Petroleum Corporation Limited.BPCL, via its indirect wholly owned subsidiary, BPRL Ventures B.V.), will acquire the entire stake held by Videocon Energy Brazil Limited in IBV Brazil Petroleo Limitada, a JV between BPRL Ventures B.V. and Videocon Energy Brazil Limited, for up to USD 270 million, via the Corporate Insolvency Resolution Process (CIRP) of VOVL.