International law firm Freshfields Bruckhaus Deringer is advising BG Group, the FTSE 100 global energy company, on the sale of its 65.12% stake in Gujarat Gas Company Limited, India’s largest private sector natural gas distribution company, for approximately INR 24.6 billion or $470 million.
GSPC Distribution Networks Limited, a subsidiary of Gujarat State Petroleum Corporation, will acquire BG Group’s stake in Gujarat Gas Company Limited.
The Freshfields team on the transaction is being led by corporate partner Pratap Amin and senior associate Simon Price. Platinum Partners is acting as Indian legal counsel to BG Group.
This transaction is the second strategic disposal that Freshfields has advised BG Group on in 2012. In May, Freshfields advised BG Group on the disposal of a 60.1% stake in Brazilian gas distributor Comgás to Brazilian group Cosan for approximately $1.7 billion.
