Exploration major ONGC said that “all options” including the internal accrual of resources and short-term borrowing were available to fund its acquisition of HPCL.
“We have various options available to us to fund this transaction,” Sudhir Vasudeva, Chairman and Managing Director of ONGC. “There is an option of internal accruals of short-term borrowing and liquid assets. We will exercise the most beneficial option available to us.”
On Saturday, ONGC announced the acquisition of the Central government’s entire 51 percent stake in HPCL for over Rs 36,900 crore.
