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Indian Oil may participate in Haldia Petrochemicals share auction, reports say

6:39 AM MST | January 16, 2013 | Francinia Protti-Alvarez

Indian Oil Corp. (IOC; New Delhi) would like to participate in the previously announced share auction process of Haldia Petrochemicals Ltd. (HPL; Kolkata, India), say reports in India's Business Standard. IOC holds a 9% stake in HPL, and the West Bengal state government and The Chatterjee Group (TCG; Mumbai) hold 44% and 43%, respectively. The remaining shares are held by several minority shareholders including The Tata Group (Mumbai), CW reported previously. "We would be keen to participate in the bidding for a controlling stake in HPL. [But we] won't...

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