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Videocon, BPCL buy Brazilian firm

Mumbai, Sept, 19

Videocon Industries and Bharat PetroResources Ltd, a wholly-owned subsidiary of Bharat Petroleum Corporation Ltd, has completed the acquisition of Brazilian company, EnCana Brasil Petroleo for $165 million. The joint venture will also be paying $118 million as reimbursement of all the expenses of EnCana since January 1, 2007, talking the final deal amount to $283 million. Encana's assets comprise of 10 deep water offshore petroleum blocks in four Concessions in Brazil.- Our Bureau

More Stories on : Mergers & Acquisitions | Petroleum | Bharat Petroleum Corporation Ltd

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