CCI approves Total Group’s 37.4% stake-buy, joint control of Adani Gas
The Competition Commission on Thursday said it has given approval to the acquisition of 37.4 per cent 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.
“Total Group believes in the initiatives taken by the Government of India to increase the reliance on natural gas instead of petroleum-based products,” the Competition Commission of India (CCI) noted.
It further noted that 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.
