ONGC to hive off 25% stake in petrochemical, power unit at an estimated US$1 bln

13-Nov-14
Oil & Natural Gas Corp., India’s biggest energy explorer, is seeking to sell to strategic investors a 25% stake each in two petrochemical ventures and a power project before taking the units public. Talks are underway with several potential buyers for stakes in ONGC Petro-additions Ltd, ONGC Mangalore Petrochemicals Ltd and ONGC Tripura Power Co., ONGC finance director Aloke Kumar Banerjee said, as per livemint.com.
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