‘Vedanta mulls $10-bn fund to bid for BPCL, other assets’
The Hindu
Money will never be a problem, says chairman Agarwal
Mining firm Vedanta Resources Ltd. plans to create a $10 billion fund to bid for assets including the Indian government’s stake in Bharat Petroleum Corp Ltd. (BPCL), its chairman told Reuters.
The Indian government is seeking to privatise state-runrefiner BPCL by selling its almost 53% stake in the firm, worth just more than $6billion, to private entities.
“We are in the process of creating a fund of $10 billion,” Mr. Anil Agarwal said in an interview in Dubai. “It will not only look at (BPCL) but there are other companies being privatised. It will look at the potential of those companies also.”
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