Adani Gas 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 the company accelerate project executions in all its new geographical areas.
Adani Gas is a wholly owned subsidiary of the Adani Enterprise (AEL) and was incorporated for setting up distribution network in various cities to supply natural gas to industrial, Commercial, Domestic and CNG Customers.
| Company Name | CMP |
|---|---|
| GAIL India | 157.80 |
| Gujarat Gas | 362.60 |
| Indraprastha Gas | 169.25 |
| Mahanagar Gas | 1125.45 |
| Adani Total Gas | 632.90 |
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