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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (6153)	9/1/1999 11:00:00 AM
From: Mohan Marette	Read Replies (2) \| Respond to of 12475

Easy money? Four companies shortlisted for IPCL ipcl.co.in The interministerial group on disinvestment has cleared four companies as potential bidders for government`s 25% stake in Indian Petrochemicals Corporation Limited (IPCL). These four players are Reliance Industries Limited, Dow Chemicals, the Purnendu Chatterjee-Soros group and Mitsubishi. The group also disqualified Indian Oil Corporation (IOC) which was a late entrant in the race. Other potential bidders like Shell, Sabic, Exxon-Mobil and British Petroleum-Amoco who were in the race earlier have informed the group of its decision to withdraw from the race. Meanwhile IOC has asked the government to reconsider its decision to keep it out of the race. IOC has a refinery next door to IPCL`s Boarda complex and hence was interested in taking over IPCL to integrate the refinery and the petrochemical complex.