Friday , November 15 2019
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Adani Gas, TOTAL to create India’s premier integrated gas utility

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.