The Competition Commission (CCI) has given approval to the acquisition of 37.4% shareholding and joint control by Total Group in Adani Gas. The proposed combination represents an investment opportunity for Total along with its subsidiaries and affiliates (Total Group) given the future of natural gas business in India.
The deal would contribute towards bridging the energy deficit and augment supply of natural gas in India and further enable Total Group to provide services in a cost-efficient manner and meet the country's long-term need for cleaner energy.
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.
