Regulator approves Total’s stake buy in Adani gas
New Delhi: The downstream regulator has approved French energy giant Total’s deal to buy stake in Adani GasNSE 12.47 %, lifting its shares 13% as investors cheered the end of uncertainty over the company’s city gas licences since November, when the same authority questioned the transaction and issued a show-cause notice.
The Petroleum and Natural Gas Regulatory Board (PNGRB) had objected to restructuring of Adani Gas and the agreed sale of stake in it to Total because there are restrictions on such deals in the first five years after a licence is granted.
