Gujarat State Petroleum Corporation (GSPC) is likely to acquire stake in Gujarat Gas Company (GGCL).
GSPC will acquire 65.12 per cent in GGCL for Rs 2,464 crore. GSPC, along with its affiliates in the Group, signed definitive agreements on 3 October 2012 for acquiring the stake from the BG Group. BG's shareholding is being acquired by Gujarat Distribution Networks (GDNL), in which the GSPC Group holds 100 per cent stake.
The BG Group Plc had decided to divest its stake in GGCL in November 2011.