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CCI approves acquisition of 37.40 pc of the paid-up share capital & joint control of Adani Gas by Total Holdings


The Competition Commission of India (CCI) has approved the acquisition of 37.40 per cent of the paid-up share capital and joint control of Adani Gas Ltd (AGL) by Total Holdings SAS, under Section 31(1) of the Competition Act, 2002, informed a release.


Total Holdings, a 100 per cent subsidiary of Total S.A. (Total), is the parent company of the Total Group entities worldwide. Total, together with its subsidiaries, is an international integrated energy producer. The Total Group is engaged in the oil and gas industry, including upstream operations in hydrocarbon exploration, development and production, and downstream operations in refining, petrochemicals, specialty chemicals, trading and shipping of crude oil and petroleum products and marketing. In India, through its subsidiaries, joint ventures and minority interests, Total Group exports natural gas at wholesale level to Indian coasts where the respective customers purchase and import the natural gas into India.


AGL is engaged in the wholesale supply 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), the release added.

 

Source : Exim News Service - New Delhi, Dec. 1

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