French energy co Total to buy 37.4% stake in India's Adani Gas

  • Reuters
  • Commodities News
French energy co Total to buy 37.4% stake in India's Adani Gas
Credit: © Reuters.

BENGALURU, Oct 14 (Reuters) - Adani (NS: APSE ) Gas ADAG.NS said on Monday French energy giant Total SA TOTF.PA would buy a 37.4% stake in the Indian gas distribution company.

Total will buy up to 25.2% in Adani Gas from public shareholders at 149.63 rupees per share, valuing the stake at 41.47 billion rupees ($584.80 million).

The French company will buy the remaining 12.2% from Adani Family, according to a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/c634a177-989e-476e-b0d5-e632d4ec209a.pdf filed to exchanges. ($1 = 70.9130 Indian rupees)

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