BPCL, HPCL to acquire strategic stake in Swan Energy unit
BPCL and HPCL are likely to pick a strategic stake in a subsidiary of Mumbai-based Swan Energy Ltd, ET Now reported.
By 
|
| By Ajaya Sharma, ET Now
NEW DELHI: BPCL and HPCL are likely to pick a strategic stake in a subsidiary of Mumbai-based Swan Energy Ltd, ET Now reported.
The state-owned oil majors are likely to acquire a 26-49 percent stake in Swan’s LNG terminal valued at Rs 2,500 crore. The Mumbai-based company plans to hive off its LNG terminal to an SPV before the deal.
“Officials of the company confirm the development,” according to sources.
At 01:00 p.m., the Swan Energy stock was trading at Rs 134.75, down 1.1 percent. It has hit a low of Rs 133 and a high of Rs 140 so far. The company has a market cap of Rs 1,300 crore.
NEW DELHI: BPCL and HPCL are likely to pick a strategic stake in a subsidiary of Mumbai-based Swan Energy Ltd, ET Now reported.
The state-owned oil majors are likely to acquire a 26-49 percent stake in Swan’s LNG terminal valued at Rs 2,500 crore. The Mumbai-based company plans to hive off its LNG terminal to an SPV before the deal.
“Officials of the company confirm the development,” according to sources.
At 01:00 p.m., the Swan Energy stock was trading at Rs 134.75, down 1.1 percent. It has hit a low of Rs 133 and a high of Rs 140 so far. The company has a market cap of Rs 1,300 crore.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
