BG Group Sells Stake In Indian Gas Co. For $470M

Law360, New York (October 4, 2012, 8:08 PM EDT) -- BG Group PLC will sell its majority interest in India's largest private-sector natural gas distribution company to a Gujarat State Petroleum Corp. Ltd. subsidiary for 24.6 billion rupees ($470 million), the U.K. oil and gas company said Wednesday.

The company will sell a roughly 65.1 percent controlling interest in Gujarat Gas Co. Ltd. to GSPC Distribution Networks Ltd., a subsidiary of state-owned GSPC.

The sale will be made by BG Group's Asian subsidiary BG Asia Pacific Holdings Pte. Ltd., the London-based company said. The transaction, which...
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