A joint venture (JV) company of ONGC Videsh (OVL) and Oil India (OIL) decided to acquire 10 per cent stake of Videocon Mauritius Energy in Videocon Mozambique Rovuma 1 gas field for $2.475 billion. OVL holds 60 per cent stake, while OIL has the remaining 40 per cent in the new JV.
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