The Hindu Business Line : IOC gets board nod to acquire stake in Singapore co

THE board of directors of Indian Oil Corporation has accorded an in-principle approval to the company's proposal to pursue the opportunity for acquisition of equity stake in an oil and gas enterprise based in Singapore.

IOC has informed the BSE "the matter is in its preliminary state."

When contacted, an IOC spokesperson said the company maintained its earlier stand on the issue.

Earlier, IOC had clarified that the company was not acquiring stake in Singapore Petroleum.

"We are in no dialogue with anyone. There are no talks of acquiring a stake in the Singapore company," the spokesperson had stated.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
GM India seeks FIPB nod to pay royalty to GMDAT

IOC gets board nod to acquire stake in Singapore co

Hero Honda to invest Rs 500 cr in third manufacturing plant

Mango processing unit inaugurated at Nilakottai

To raise funds for capex projects — RPG group may dilute stake in Phillips Carbon Black

Sundaram-Clayton air brake unit opened

Visaka Ind plans Rs 65-cr garments unit in Chennai

Indian Bank takes possession of Binny property

Rise in raw material price will not hit our margins: GAIL chief

HLL has begun climb back up: Banga

Century Ply's laminate unit breaks even

Excellent team, excellent strategy: Manwani

Gopala Pillai is new FACT chief