Epic Update : Gulf Oil Corporation

Gulf Oil Corporation has received its board's approval to divest its holding in the three subsidiaries namely Gulf Oil Yantai (51% holding), Gulf Oil Indonesia (75% holding) and Gulf Oil Bangladesh (51% holding) for an overall amount of around Rs 54.90 crores (cost of investment Rs 29.10). Accordingly, the steps will be taken to operationalise the disinvestment over the next 2-3 months taking into account regulatory requirements, if any in the respective countries.


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