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BP seeks nod for buying Tatas' stake in lube venture
Our Bureau
New Delhi, April 2: BP International has approached the government for buying out Tata group's 49 per cent equity in Tata-BP Lubricants, a 50:50 joint venture. This will raise BP's stake in the joint venture to 99 per cent with the Tatas retaining the remaining 1 per cent equity. , "The Tatas have expressed their desire to withdraw their association with regard to this brand of lubricating oils for India." Sources said, "After several rounds of negotiations between both the partners, BP Mauritius have desired to acquire the Tata group shareholding to the extent of 49 per cent." uCopyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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