Total to buy 37.4% stake in Adani Gas
NEW DELHI: French energy giant Total on Monday announced acquisition of 37.4 per cent stake in Gautam Adani-led Adani GasNSE 12.35 %.
The gas marketing and distribution company, however, did not reveal the value of the deal.
The announcement comes a year after the two firms announced a 50:50 joint venture to import and retail natural gas.
“The partnership between Adani (50 per cent) and Total (50 per cent) includes several assets across the gas value chain notably two imports and regasification LNG terminals: Dhamra in East India and potentially Mundra in the west, as well as Adani Gas, one of the four main distributors of city gas in India of which Adani holds 74.8 per cent and of which Total will acquire 37.4 per cent,” the French firm said in a statement.
