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Vedanta puts $12-B price tag on Bharat Petroleum

Economic Times  

Vedanta Group is willing to spend USD 12 Billion to acquire India's state-owned refiner Bharat Petroleum Corp., an asset sale that's among the nation's biggest and which has faced delays in completion. The market cap of the company is about USD 11-12 Billion. The bids for BPCL are likely to open in March. Besides Vedanta Group, private equity firms Apollo Global Management and I Squared Capital have also shown interest in acquiring the government's holding in the oil refiner.