BP to pay Reliance ₹7,000 crore for 49% stake in its fuel retail biz

British energy giant BP will pay about ₹7,000 crore for acquiring 49% stake in Reliance Industries' (RIL) fuel retail business. The companies had agreed to form a joint venture that will take over 1,400 retail fuel stations run by Reliance. The partners plan to expand the fuel retailing network to as many as 5,500 stations over the next five years.