News > Vedanta is willing to spend as much as $12 bn to acquire BPCL

Vedanta is willing to spend as much as $12 bn to acquire BPCL

Economic Times | 13/01/2022 11:11 PM | Click to read full article

Vedanta Group is willing to spend $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.

“We’re not going to bid aggressively, but we will put the right price," billionaire chairman Anil Agarwal said in an interview in Riyadh on Wednesday. “The market cap of the company is about $11 billion to $12 billion, so this is the amount of investment we’re looking at."