Mahanagar Gas' Unison Enviro acquisition lights up its growth prospects

Tailwinds for the industry in the form of decline in gas prices are also near-term positive

Mahanagar Gas (MGL) has acquired Unison Enviro (UEPL), an entity previously owned by Ashoka Buildcon and North Haven, which is an affiliate of Morgan Stanley India Infra Fund. MGL will take 100 per cent stake in UEPL for a consideration of Rs 531 crore. MGL is a leading natural gas distribution company supplying compressed natural gas (CNG) to vehicles and piped natural gas (PNG) to domestic, commercial, and industrial consumers in Mumbai, Navi Mumbai, Thane and adjoining areas and Raigad district.

UEPL has the licence to develop and operate city gas distribution business in Ratnagiri and Latur and Osmanabad geographical