Reliance to sell its entire share in GAPCO to Total
The Dollar Business Bureau Reliance Industries Ltd’s (RIL) indirectly fully-owned arm, Reliance Exploration & Production DMCC (REPDMCC), has signed an agreement to sell its entire interest of 76 percent in the Mauritius-incorporated GAPCO to Total Marketing and Services. REPDMCC has signed agreement with Total on May 30, 2016 for the sale of its entire 76 percent interest held by it in the GAPCO (Gulf Africa Petroleum Corporation), RIL said in a BSE filing on Tuesday. The proposed deal is subjected to approvals from regulatory bodies and other conditions that are applicable for such transactions, it added. GAPCO, a holding company, has operating arms in Kenya, Tanzania and Uganda, which are majorly involved in the imports of petroleum products. The company is also ...
India, Kenya gear up for bilateral investments
The Dollar Business Bureau India and Kenya on Wednesday participated in the seventh Joint Committee Meeting in New Delhi, a meeting that is being held between the two nations after a gap of over four years. In the meeting, both the sides reviewed their bilateral trade and agreed to enhance cooperation in the fields of bilateral investment, infrastructure, among other key sectors. Speaking at the meet, Nirmala Sitharaman, Union Commerce Minister, Government of India, called for enhancement of the share of Kenyan exports in India’s bilateral trade. She further stressed on the need for India’s increased development partnership engagement with Kenya and for cooperation in the fields of agriculture, horticulture and mining. Referring to Kenyan President’s priority towards the infrastructure ...
