Key Points
Mumbai:Global infrastructure investor I-Squared Capital-backed city gas distribution companies in India AG&P Pratham and Think Gas Distribution are set to merge, according to two industry executives aware of the development..
It will be a stock-for-stock merger a share of one company for each of the other...
Currently, I-Squared holds 100% stake in Think Gas Distribution and 73% in AG&P Pratham, the India arm of Singapore-based Atlantic Gulf & Pacific (AG&P) City Gas..
In 2021, Osaka Gas, through affiliate Osaka Gas Singapore and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN), invested up to $120 million in Singapore-based AG&P City Gas...
In India, its city gas distribution arm AG&P Pratham holds 12 licences to exclusively develop CGD infrastructure in 37 districts covering 8% of India's land mass and spread across five states Tamil Nadu, Kerala, Andhra Pradesh, Karnataka and Rajasthan..
