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Friday, August 12, 2011

Adani Gas Buys 20% Equity Stake In Green Gas

Date:12/08/11,
M&A, strategic Investment,
Domestic Deal,

Adani Gas a Gujarat based, wholly owned subsidiary of the Adani Enterprise Ltd (AEL), acquires 20% equity stake in Green Gas Ltd. Green Gas Ltd a joint venture between Gail and the Indian Oil Corporation (IOC).
Green Gas Ltd supplies city gas and compressed natural gas in Agra and Lucknow in Uttar Pradesh. Gailand IOC hold 22.5% each in the company, while Uttar Pradesh State Industrial Development Corp holds 5% stake. Aditya Vikram Birla Group and financial institutions IDFC and UTI together hold 50% stake in Green Gas Ltd.
“We have signed a memorandum of understanding with Green Gas to pick up 20% equity stake in the company. We will merge our assets with Green Gas Ltd. Since both of us were in the same city, we decided to work together so that there is no hassle. Also, now, wherever we go we will go together,” said Rajeev Sharma, chief executive officer, Adani Gas.

Posted by Baigalla madhan at 12:22 PM

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HI I'am Baigalla Madhan behalf of (Universalfacts) My Blog, provides complete information of online financials data services which includes ,,, Private Equity (Asset Managers) (Investments), Venture Capital (Asset Managers) (Investments), M&A, IPO, Funds (Private Equity and Venture Capital Funds), Deals (Private Equity deals, Venture Financing Deals (series A to G), Strategic and M&A Deals), Limited Partners, Advisors Firms, Public Equity, Financials Reports...

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