GAIL highest bidder for JBF Petro
The government-owned natural gas explorer and producer, GAIL has emerged as the highest bidder for JBF Petrochemicals with a Rs 1,800-crore resolution plan. GAIL's offer is the best of the 3 offers received for the bankrupt company at the expiry of the August 30th bid deadline. The firm outbid an ONGC-Indian Oil consortium and the Kolkata-based MCPI, the two other bidders.
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