Bharat Petroleum Corporation Limited has informed stock exchanges that its indirect wholly owned subsidiary BPRL Ventures BV has completed the acquisition of full ownership of IBV Brasil Petroleo Limitada. The transaction, completed on July 1, 2026, received concurrence from DIPAM and NITI Aayog. The acquisition was intimated under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
BPRL Ventures BV acquired the remaining 39.14% stake in IBV for a cash consideration of Rs 2,312 crore. The acquisition increased the subsidiary's shareholding in IBV from 60.86% to 100%. The transaction is not a related party transaction.
IBV Brasil Petroleo Limitada is a company registered in Brazil and is engaged in exploration and production of oil and gas. The company holds participating interests in oil and gas concessions in Brazil. IBV was incorporated on December 26, 2005, and reported nil turnover for the calendar years 2023, 2024 and 2025.
Prior to the acquisition, BPRL Ventures BV held 65.40% of IBV's share capital. Loans extended by IBV shareholders were converted into equity, after which BPRL Ventures BV's shareholding stood at 60.86% immediately before the acquisition of the remaining stake.
The acquisition provides BPCL access to additional equity oil and gas. This supports India's energy security through BPCL's overseas upstream oil and gas assets.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.