French energy giant Total acquires 37.4% in Adani Gas for Rs 5,152 crore

Total had said late last year that CGD was a natural extension of the plans of both partners to invest in infrastructure and assets worth over $1 billion

French energy giant Total on Friday acquired 37.4 per cent stake in Gautam Adani-led Adani Gas, in a bulk deal worth Rs 5,152 crore.

Through the deal, Total Holdings SAS bought a stake from several Adani Group companies — including Adani Tradeline, Afro Asia Trade and Investments, S B Adani Family Trust, Universal Trade and Investments and Worldwide Emerging Market Holding.

In October last year, Total had announced its plans to buy Adani Group’s stake in Adani Gas through a mix of open offer and purchase from promoters. It was only on February 21 this year that the deal got the approval