French energy giant Total SA is close to acquiring a 30% stake in Indian gas distribution company Adani Gas for upwards of rupees 5,500 crore ($800 million), the Times of India reported on Friday.
The deal is expected to trigger an open offer to public shareholders of Adani Gas, and Total may end up having a roughly equal stake in the company as billionaire promoter Gautam Adani, the report said.
Adani Gas, an arm of Adani Group, operates a distribution pipeline network of over 6,000 km and caters to nearly 350,000 retail customers, the report said. Read More
Latest posts by zeebiz (see all)
- Mumbai: Railways services hit due to ‘overhead problems’: shuttle services begin to clear rush - July 17, 2019
- When will Indian economy hit $5 trillion mark? Railway Minister Piyush Goyal explains - July 16, 2019
- Indian Railways salutes Armymen with this touching Delhi-Varanasi Kashi Vishwanath Express Kargil War train - July 16, 2019