The CCI on November 28, 2019 has given approval to the acquisition of 37.4% shareholding and joint control by Total Group in Adani Gas. The proposed combination represents an investment opportunity for Total along with its subsidiaries and affiliates ("Total Group") given the future of natural gas business in India.
The CCI noted that the deal would contribute towards bridging the energy deficit and augment supply of natural gas in India and further enable Total Group to provide services in a cost-efficient manner and meet the country's long-term need for cleaner energy.
Total Holdings is a 100% subsidiary of Total S.A. The Total Group is engaged in every sector of the oil and gas industry, including upstream and downstream. Besides, it is also involved in the renewable energy and power generation sectors.
Adani Gas Ltd is engaged in the wholesale supply of natural gas and downstream (retail) supply of natural gas through city gas distribution networks to industrial, commercial, domestic and automotive customers in India.
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