ONGC Videsh-ConocoPhillips deal to be 6th biggest involving Indian co

ONGC Videsh Ltd's USD 5 billion deal with the US energy giant ConocoPhillips would be the sixth biggest merger and acquisition (M&A) deal involving an Indian company.

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), today agreed to buy US energy major ConocoPhillips' 8.4 per cent stake in Kazakhstan's Kashagan oilfield for about USD 5 billion.

If the deal concludes, this would be the country's sixth largest M&A deal till date after Hindalco's USD 6 billion acquisition of Canadian company Novelis Inc.

Tata Steel's USD 12.2 billion takeover of European steel giant Corus, Vodafone taking over controlling stake in Hutch-Essar from Hutchison for about USD 11 billion and Bharti Airtel's acquisition of Zain Telecom's African assets for about USD 10.7 billion are the three biggest deals involving Indian companies.

Billionaire Anil Agarwal-led Vedanta group's USD 8.6 billion acquisition of Cairn India, is probably the fourth largest M&A deal involving an Indian company.

The stake buy in Kashagan field, which current produces about 370,000 barrels day (18.5 million tons), is subject to approval of governments of Kazakhstan and India as well as other partners in the Caspian Sea field waiving off their pre-emption rights.

Other large M&A deals involving Indian companies are the Hindalco-Novelis transaction (USD 6 billion), Daiichi-Ranbaxy (USD 4.50 billion), ONGC-Imperial (USD 2.80 billion) and NTT DOCOMO-Tata Teleservices (USD 2.70 billion).

Stocks More on ONGC Videsh

Company INFO More on ONGC Videsh

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus