Gujarat Gas Co. said its majority stakeholder BG Group PLC is looking to divest its stake in the Indian city gas distribution company.
Gujarat Gas has been "informed by its majority stakeholder that it has started a process that may result in divesting its shareholding," it said in a filing with the Bombay Stock Exchange.
Gujarat Gas didn't specify whether BG is looking to divest a part of its stake or its full stake.
BG Group's Indian unit declined to comment.
London-listed explorer BG Group acquired a majority stake in Gujarat Gas in 1997, BG's website showed.
BG Group has a 65.12% stake in Gujarat Gas, which distributes gas to commercial, industrial and domestic consumers through 42 retail outlets in the western Indian state of Gujarat.
Gujarat Gas has been "informed by its majority stakeholder that it has started a process that may result in divesting its shareholding," it said in a filing with the Bombay Stock Exchange.
Gujarat Gas didn't specify whether BG is looking to divest a part of its stake or its full stake.
BG Group's Indian unit declined to comment.
London-listed explorer BG Group acquired a majority stake in Gujarat Gas in 1997, BG's website showed.
BG Group has a 65.12% stake in Gujarat Gas, which distributes gas to commercial, industrial and domestic consumers through 42 retail outlets in the western Indian state of Gujarat.
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