The board of directors of Gulf Oil Corporation Ltd, a Hinduja group company, has decided to divest stake in three of its overseas subsidiaries. Gulf Oil Yantai (51 per cent holding), Gulf Oil Indonesia (75 per cent holding) and Gulf Oil Bangladesh (51 per cent holding) are the three subsidiaries where the company is seeking to divest stake. This divestment would help the company focus on the lubricants business in India.
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