BPCL BUYS VIDEOCON'S BRAZIL OIL AND GAS STAKE, WILL NOW TAKE FULL OWNERSHIP OF THE JOINT VENTURE

State-owned oil marketing company $BPCL has acquired Videocon's remaining stake in IBV Brasil Petroleo Ltda, thereby taking full ownership of the Brazilian joint venture as it seeks to expand it's overseas upstream portfolio and bolster long-term energy supplies. The acquisition was completed through BPCL's upstream subsidiary, Bharat PetroResources Ltd (BPRL), and its step-down subsidiaries. Following the transaction, BPRL's stake in IBV has increased from 65.4 per cent to 100 per cent, making the Brazilian company a wholly owned subsidiary of the group. $BPCL is a public sector company which is engaged in the business of refining of crude oil and marketing of petroleum products. The company has maintained a strong ROCE and ROE of 25% and 28% respectively, as well as strong dividend payout of 26%. FIIs have also been increasing stake in the company from 14.58% in Mar25 to 19.57% in Mar26.