October 14, 2019 / 3:13 AM / a month ago

French energy co Total to buy 37.4% stake in India's Adani Gas

BENGALURU, Oct 14 (Reuters) - Adani Gas said on Monday French energy giant Total SA would buy a 37.4% stake in the Indian gas distribution company.

Total will buy up to 25.2% in Adani Gas from public shareholders at 149.63 rupees per share, valuing the stake at 41.47 billion rupees ($584.80 million).

The French company will buy the remaining 12.2% from Adani Family, according to a statement here filed to exchanges. ($1 = 70.9130 Indian rupees) (Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu Sahu)

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