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 of the Petroleum and Natural Gas Regulatory Board (PNGRB).
