Announced Thu, 2 Jul · 20:35 IST
BPCL completes Rs 2,312 Cr acquisition of remaining stake in IBV Brazil
BPCL · price
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Price reaction · full curve 14 horizons · vs prior close
-0.8%1-day move
₹310.65
prior close
₹313.60
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-1.4-1.3-1.5-1.7-0.8+0.8-2.3-0.7-0.1-1.7-0.2———
Up moveDown movePending
AI summary
BPCL's step-down subsidiary BPRL Ventures BV has completed the acquisition of an additional 39.14% stake in IBV Brasil Petroleo Limitada for Rs 2,312 Crores in cash, taking its shareholding from 60.86% to 100%. IBV holds participating interests in oil and gas concessions in Brazil. The deal is not a related party transaction. Approvals from DIPAM and NITI Aayog have been obtained. The acquisition gives BPCL full control and access to more overseas oil and gas.
Likely market impact
Full ownership of IBV Brazil strengthens BPCL's overseas oil and gas portfolio and supports energy security, though the target currently has nil turnover.