BPCL: Buyout fund Apollo Global joins race for BPCL

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Over the years, Apollo has been taking bigger bets in India, bidding for distressed assets such as Monnet Ispat, which it acquired through the bankruptcy process with JSW Group.

Synopsis

Submits EoI; to partner with global oil major to create consortium within 45 days of submission of offer

Mumbai | New Delhi: Apollo Global Management has submitted an expression of interest (EoI) for the government’s 53 per cent stake in Bharat Petroleum Corp Ltd (BPCL), said people with knowledge of the matter. The move underscores the growing appetite of the Wall Street buyout group founded by Leon Black for big-ticket deals in India after having recently dissolved its joint venture platform Aion Capital with ICICI Venture. Apollo will compete

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