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Prospective bidders visit virtual data room for Haldia Petrochemicals Ltd

KOLKATA: The six prospective bidders, who had evinced interest in buying out West Bengal government's stake in Haldia Petrochemicals Ltd (HPL), have visited the virtual data room of the company. 

"All the six companies which had responded to the expression of interest (EoI) floated by the transactional advisor have visited the virtual data room of the company," a source in HPL told PTI. 

The six companies were GAIL, Indian Oil and ONGC from the public sector, 
Reliance IndustriesBSE 0.02 %, Cairn IndiaBSE 1.65 %and Jindal Petroleum from the private sector.

The virtual data room had been hosted on the website of WBIDC, which had invested in HPL on behalf of the West Bengal government. 

The virtual data room consists of all the information regarding the company which would help the prospective bidders in doing due diligence of the company. 

The West Bengal government under 
Trinamool Congress had expressed its desire to sell off its nearly 40 per cent stake in the company for which it had appointed Deloitte as the transactional advisor. 

Purnendu Chatterjee's TCG, the other promoter, which was engaged in a bitter legal battle with the West Bengal government, would be offered the first right of refusal.