June 14, 2019 / 4:48 AM / a month ago

BUZZ-India's Adani Gas rises on report France's Total close to buying 30% stake

** Shares of gas distributor Adani Gas Ltd rise as much as 6.7% to 180 rupees, their highest since June 4

** French energy giant Total SA is close to buying a 30% stake in India's Adani Gas for upwards of 55 bln rupees ($790.51 mln), The Times of India reported here on Friday, citing people directly aware of the matter

** Deal to be announced shortly; it is expected to trigger an open offer to public shareholders - report

** Total may end up having a roughly equal stake in co as billionaire promoter Gautam Adani - report

** Over 1.3 mln Adani Gas shares change hands by 0427 GMT, vs 30-day avg of 1.5 mln shares

** Total did not immediately respond to Reuters’ request for comment, while Adani Gas was not reachable

** Stock up 67.4% this year, as of last close

$1 = 69.5750 Indian rupees Reporting by Chris Thomas in Bengaluru

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below