London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950

Our Clients

Order Informer

Home > News >

The Chatterjee Group to acquire West Bengal government's 45% stake in HPL

October 12/2011

(Plastemart) -- Purnendu Chatterjee promoted The Chatterjee Group plans to acquire West Bengal government's 45% stake in Haldia Petrochemicals (HPL), to become its largest shareholder with management and control. It is already the second largest shareholder with about 41% stake in HPL. As per Times of India, this move follows the path paved by the Supreme Court for divestment of state government's stake in the petrochemical firm with annual sales of Rs 10,000 crore. The government has appointed SBI Caps to do a valuation of the firm.

"We have got our right of first refusal and will exercise it to retain management and control of the firm. We are in talks with the government and are optimistic that the government will take a right decision in this case protecting interests of both the parties ," as per Anirudha Lahiri, President & CEO, TCG.

Category:General News
| More

Leave a comment

MRC help


 All News   News subscribe