Bharat Petroleum Corporation Limited (BPCL) has effected the payment of approx. INR 2,400 crores to OQ for the acquisition of 36.62% equity shares in Bharat Oman Refineries Limited (BORL).

With this, BORL has become a wholly-owned subsidiary of BPCL.

IndusLaw assisted Bharat Oman Refineries in the sale process including drafting and negotiation of the definitive documents and closing of the deal.

The transaction team was led by Partners Manish Gupta and Jinni Sinha.

Shardul Amarchand Mangaldas & Co. represented BPCL.

Clifford Chance and AZB & Partners advised OQ.

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