India’s state owned explorer Oil India Ltd has reportedly hired seven banks including Citigroup Inc. and Morgan Stanley to help complete an overseas acquisition this fiscal year aimed at boosting India’s energy security. The government of India has asked Oil India and Oil & Natural Gas Corp. to each make at least one acquisition this year to meet demand in Asia’s second-fastest growing major economy.1

• 1. “Citibank, Morgan Hired by Oil India to Help Advise on Acquisitions Abroad”, Bloomberg, August 26, 2010, at http://www.bloomberg.com/news/2010-08-26/citibank-morgan-hired-by-oil-in...