CCEA approves strategic disinvestment in BPCL, four other PSUs: Things to know | Mint
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Business News/ Politics / Policy/  CCEA approves strategic disinvestment in BPCL, four other PSUs: Things to know
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CCEA approves strategic disinvestment in BPCL, four other PSUs: Things to know

Cabinet approves strategic disinvestment in BPCL along with transfer of management control, excluding stake in Numaligarh Refinery
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    Cabinet approves strategic disinvestment of Shipping Corp of India along with management control: FM Nirmala Sitharaman (Pradeep Gaur/Mint )

    The government has agreed to sell its stakes in some state-run companies including oil refiner Bharat Petroleum Corp (BPCL), finance minister Nirmala Sitharaman said on Wednesday . Here are the key takeaways

    (i) Bharat Petroleum Corporation Ltd. (BPCL)

    (a) Strategic disinvestment of Government of India shareholding of 53.29% in Bharat Petroleum Corporation Ltd (except its equity shareholding of 61.65% in Numaligarh Refinery Limited (NRL) and management control thereon) along with transfer of management control to a strategic buyer.

    (b) Strategic disinvestment of BPCL's shareholding of 61.65% in NRL along with transfer of management control to a Central Public Sector Enterprise (CPSE) operating in the Oil and Gas Sector.

    (ii) Shipping Corporation of India Ltd. (SCI)

    Strategic disinvestment of Government of India shareholding of 63.75% in Shipping Corporation of India Ltd along with transfer of management control to a strategic buyer.

    (iii) Container Corporation of India Ltd. (CONCOR)

    Strategic disinvestment of Government of India shareholding of 30.8% (out of 54 8% equity presently held by the Government of India) along with transfer of management control to a strategic buyer.

    (iv) Tehri Hydro Development Corporation India Limited (THDCIL)

    Strategic disinvestment of Government of India shareholding of 74.23% in THDCIL along with transfer of management control to an identified CPSE strategic buyer, namely, NTPC.

    (v) North Eastern Electric Power Corporation Limited (NEEPCO)

    Strategic disinvestment of Government of India shareholding of 100% in NEEPCO along with transfer of management control to an identified CPSE strategic buyer, namely, NTPC.

    Strategic disinvestment of CPSEs will be undertaken through already established procedure and mechanism.

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    Published: 20 Nov 2019, 10:41 PM IST
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