Centre: Multiple Expressions of Interest received for privatisation of BPCL

23 Mar 2022 , 12:36 PM

As per Ministry of Finance said on Tuesday, the Transaction Advisor appointed for the privatisation of BPCL had informed that multiple Expressions of Interest (EoIs) had been received for privatisation of BPCL, and the transaction is in the second stage of the process. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha.

The Minister further stated that Transaction Advisor is bound by the non-disclosure agreement for not sharing the information relating to bidders during the currency of the process to ensure competitive non-collusive bidding.

On a question of whether Government has a plan in place to ensure the security of jobs of current employees of BPCL, the Minister stated that the terms and conditions of the strategic disinvestment in the Share Purchase Agreement suitably address employees’ concerns.