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The Economic Times
The Economic Times

BPCL to buy 40% stake in Tiki Tar and Shell India for Rs 85 crore

BPCL India Bharat Petroleum Corporation Petroleum

New Delhi: State-run Bharat Petroleum Corporation on Monday said it will acquire a 40 per cent equity stake in Tiki Tar and Shell India for Rs 85 crore in cash, as it seeks to expand its presence in India's fast-growing value-added bitumen market.

The acquisition, which has received approval from the Department of Investment and Public Asset Management (DIPAM), is expected to be completed within 90 days, Bharat Petroleum Corporation Ltd (BPCL) said in a regulatory filing.

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