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| Exchange Disseminated Time | Gujarat State Petronet Ltd has informed BSE regarding Press Release dated October 03, 2012 "GSPC Group to acquire 65.12% stake in Gujarat Gas Company Ltd."
Press Release:
"The Gujarat State Petroleum Corporation Ltd. (GSPC) alongwith its affiliates (GSPC Group) today signed definitive agreements for the acquisition of 65.12% 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% is held by GSPC Group. The Agreement was signed earlier today at Singapore. The acquisition is being made at Rs. 295 per share and GDNL will pay Rs. 2,463.8 crores to BG for the acquisition. The acquisition is subject to the customary regulatory approvals and is expected to close pursuant to completion of open offer as per SEBI Takeover Code and the approval of the Competition Commission of India and Reserve Bank of India." (For more details kindly refer Corporate Announcements on www.bseindia.com). |
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