Mahanagar Gas has entered into definitive documents to acquire 100% of the shareholding of Unison Enviro (UEPL) through the purchase of shares from its existing shareholders, which will occur upon receipt of approval from the Petroleum and Natural Gas Regulatory Board (PNGRB/ Regulator) for 100% transfer of shares (unless otherwise agreed between the Company, UEPL, and existing shareholders of UEPL in accordance with the terms of the definitive documents) (Transaction) and
The acquisition is part of the company’s strategy to pursue opportunities for inorganic growth.
The transaction will take place for Rs 531 crore in cash and is subject to PNGRB approval.
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