Videocon-BPRL acquires Encana Corp for 750 cr

New Delhi, Sep 19: Videocon Industries and its joint venture partner Bharat PetroResources, a wholly-owned subsidiary of Bharat Petroleum Corporation, have completed the acquisition of Encana Corporation's Brazilian oil assets for Rs 750 crore.

A further payment of Rs 540 crore was made towards expenses of EnCana Brasil PetroleoLimitad, which has 10 deepwater offshore exploration blocks, the company said in a statement on Friday, Sep 19. The company's overseas arm-- Videocon Energy Ventures and BRPL had also acquired 10 per cent stake each in an offshore oil exploration block in Mozambique's Anadarko Mozambique last month.

UNI