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Last Updated : Aug 13, 2015 09:21 AM IST | Source: Reuters

India hires 5 banks for $1.5 bn Indian Oil stake sale: IFR

The government tapped Citigroup, Deutsche Bank, JM Financial, Kotak and Nomura to handle the sale of a 10 percent stake in the oil company, which at current market prices would be worth up to 95 billion rupees, added IFR, a Thomson Reuters publication.

 
 
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The government has hired five banks to manage a stake sale valued at up to USD 1.5 billion in state-run Indian Oil Corp, IFR reported on Thursday, citing people familiar with the deal.



The government tapped Citigroup, Deutsche Bank, JM Financial, Kotak and Nomura to handle the sale of a 10 percent stake in the oil company, which at current market prices would be worth up to USD 95 billion, added IFR, a Thomson Reuters publication.



Indian Oil didn't immediately respond to a Reuters request for comment on the share sale.

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First Published on Aug 13, 2015 09:12 am
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