The government of India has exempted public sector oil and gas companies from requiring mandatory approvals from the country’s competition commission for mergers, according to The New Indian Express.
The exemption was made by the Ministry of Corporate Affairs and will last for five years. The first merger in the sector has already been given the go-ahead by the Cabinet Committee on Economic Affairs and involves the sale of the government’s 51.11% stake in oil refiner Hindustan Petroleum Corp. to Oil and Natural...
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