Economy / India
Eni Looks At Options For Hindustan Oil Exploration
February 2008 | Company News AlertThrough its recent acquisition of Britain's Burren Energy, Italian major Eni indirectly acquired a 27.15% stake in India's Hindustan Oil Exploration. Now, under Indian takeover laws, Eni is obliged to make an open offer to other shareholders to buy a further 20%. Indian media reports have suggested that Eni may want to make a different offer, however, with some suggesting the major may seek to acquire the entire share capital of the target.
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