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France's Total close to buying 30% in Adani Gas for Rs 5,500 crore: Report

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 sai

Reuters 

 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. Total and Adani Gas ...

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First Published: Fri, June 14 2019. 08:16 IST
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