New Delhi, July 1 -- Bharat Petroleum Corporation Limited (BPCL) on Wednesday said its indirect wholly owned subsidiary, BPRL Ventures BV, has signed definitive agreements to acquire the remaining 34.6 per cent stake held by Videocon Energy Brazil Ltd (VEBL) in IBV Brazil Petroleo Limitada.

It will help BPCL take full ownership of its Brazil-based oil and gas joint venture after the transaction receives the required registration from authorities in Brazil.

BPCL said the acquisition involves the entire shareholding held by Videocon Energy Brazil Limited (VEBL) in IBV Brazil Petroleo Limitada and is being carried out under the Corporate Insolvency Resolution Process of VOVL Ltd.

"We hereby inform you that BPRL Ventures BV has now execute...