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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.