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India's ONGC to buy majority stake in refiner HPCL

New Delhi 

INDIA'S biggest explorer Oil and Natural Gas Corp (ONGC) has agreed to buy the government's majority stake in state-refiner Hindustan Petroleum Corp (HPCL) for 369 billion rupees (S$7.6 billion), ONGC said on Saturday.

It will pay a premium of about 14 per cent on HPCL's...

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