GSPC to buy Gujarat Gas Company stake

The Gujarat State Petroleum Corporation Ltd (GSPC) alongwith its affiliates (GSPC Group) on Wednesday signed definitive agreements for the acquisition of 65.12 per cent stake in Gujarat Gas Company Limited (GGCL) from BG Group (BG).

BG’s shareholding is being acquired by Gujarat Distribution Networks Ltd, a company in which 100 per cent is held by GSPC Group. The acquisition is being made at Rs 295 per share and GDNL will pay Rs 2,463.8 crore to BG for the acquisition.

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