BG Group sells majority interest in Gujarat Gas Company

BG Group has reached an agreement to sell its majority interest in India’s Gujarat Gas Company for approximately INR24.6bn (£293.3bn) to GSPC Distribution Networks, a subsidiary of Gujarat State Petroleum.

The agreement, which is subject to regulatory approval, involves the sale of BG Asia Pacific Holdings’ 65.12 per cent controlling interest in Gujarat Gas Company.

The transaction is scheduled to be completed during the first half of 2013.