To explore synergies in gas distribution, fuel retail and LNG
Adani and TOTAL have signed definitive agreements to deepen their existing partnership and commitment for developing multi-energy offerings to the Indian energy market.Total will purchase 37.4% shares in Adani Gas through a tender offer to public shareholders to acquire up to 25.2% shares subject to applicable regulations and purchase the residual shares from Adani Family.
Adani Family and TOTAL SA shareholders shall ultimately hold 37.4% each and public shareholders shall hold remaining 25.2%.
The partnership and equity support from the partners will help Adani Gas accelerate project executions in all its new geographical areas.
Adani Gas shall also pursue fuel retail business in India and target to setup 1,500 fuel stations offering top of the line products in the coming years.
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