State-owned Oil India Ltd said it is in talks to buy 51 per cent in billionaire Mukesh Ambani’s privately owned firm Reliance Gas Transportation Infrastructure Ltd (RGTIL). “We have expressed interest for buying 51 per cent stake in RGTIL,” Oil India Ltd (OIL) Director (Finance) T K Ananth Kumar told reporters here.
OIL is one of the 11 firms — five Indian and six foreign — that have expressed interest to buy stake in RGTIL.
State-owned GAIL India Ltd and NYSE-listed energy major Enbridge are among the firms interested in buying stake. “We have submitted a separate EoI,” he said.
The stake sale is being managed by JPMorgan, Citi and SBI Caps. Stating that OIL has ambitions to diversify into gas sector, he said the a financial bid would be made only after proper due diligence.
Published 28 May 2012, 16:50 IST