For privatization of BPCL, multiple EoI received
Privatization of BPCL – Delhi: The Deal Counsel for the commercialization of BPCL has advised that various Exercises of Interest (EoIs) have been obtained, and the operation is currently in the second step of the process. Dr. Bhagwat Kisanrao Karad, Union Minister of State for Finance, said in a written reply to a question in the Rajya Sabha today.
The Minister went on to say that Transaction Advisor is bound by a non-disclosure agreement not to share bidder information during the course of the process in order to ensure competitive, non-collusive bidding.
In response to a question on whether the government has a plan in place to protect the job security of current BPCL employees, the Minister stated that the terms and circumstances of the strategic disinvestment in the Share Purchase Agreement adequately address the concerns of employees.
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