SME Times News Bureau | 22 Jan, 2017
Exploration major ONGC on Sunday said that "all
options" including internal accrual of resources and short term borrowing
were available to fund its acquisition of HPCL.
"We have various options available with us to fund this transaction,"
Sudhir Vasudeva, Chairman and Managing Director of ONGC, told a press briefing
here.
"There is an option of internal accruals... of short-term borrowing and
liquid assets... We will exercise the most beneficial option available with
us."
On Saturday, ONGC announced the acquisition of the Central government's entire
51 per cent stake in HPCL for over Rs 36,900 crore.