Mahanagar Gas has entered into definitive documents to acquire 100% of the shareholding of Unison Enviro (UEPL), through purchase of shares from its existing shareholders which shall take place upon receipt of approval for 100% transfer of shares from Petroleum and Natural Gas Regulatory Board (PNGRB/ Regulator) (unless otherwise agreed between the Company, UEPL and existing shareholders of UEPL in accordance with the terms of the definitive documents) (Transaction) and such other consent(s) and approval(s), as may be required.
The acquisition is part of the company's strategy to pursue inorganic growth opportunities. The transaction will take place for a cash consideration of Rs 531 crore and subject to PNGRB approval.
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