India Development News & Foreign Investment Opportunities

Total’s 37.40% stake in AGL approved

AGL gets French partner

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AGL gets French partner

TOTAL

 

The Competition Commission of India (CCI) has approved Total Holdings SAS’ 37.40% acquisition of the paid-up share capital and joint control of Adani Gas Limited (AGL) under Section 31(1) of the Competition Act, 2002.

The approval was given on 28 Nov 2019, said the Ministry of Corporate Affairs.

Total Holdings, a 100% subsidiary of Total of France, is the ultimate parent company of the Total group entities worldwide. Total, together with its subsidiaries, is an international integrated energy producer.

Total Group exports natural gas at wholesale level to India.

AGL is engaged in the wholesale supply of natural gas and downstream (retail) supply of natural gas through city gas distribution (CGD) networks to industrial, commercial, domestic and automotive customers in India, including supplies to oil marketing companies. fiinews.com

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