ICICI Ventures exits Prize Petroleum stake to HPCL
ICICI Ventures has exited its stake in Prize Petroleum to Hindustan Petroleum Corporation (HPCL). The private equity firm owns 10% of Prize, with ICICI Bank and HDFC holding 35% and 5%, respectively. Each party is selling up, allowing HPCL, which already owns 50% of the asset, to take full control.
The transaction size has not been disclosed but is expected to be around INR100 million ($1.9 million), based on a purchase price of INR10 per share for 10 million shares, DealCurry reported. HPCL will...
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