Moneycontrol
Dec 27, 2011 02:28 PM IST | Source: Moneycontrol.com

Varun Group sells stake in Madagascar oil wells for $150 mn

Varun Industries has sold 51% stake in its onshore oil blocks in Madagascar at an upfront payment of $150 million to China’s De Qing Group. The former has also said it will form a joint venture with Da Qing to explore the 6,884 square kilometer block in Madagascar.

Varun Group sells stake in Madagascar oil wells for $150 mn

Moneycontrol Bureau

Varun Industries has sold 51% stake in its onshore oil blocks in Madagascar  at an upfront payment of $150 million to China

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