Indraprastha Gas buying 50% in Central UP Gas; investors exiting at around 2.5x

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Natural gas company Indraprastha Gas Ltd is acquiring 50 per cent stake in Central UP Gas Ltd, a joint venture between India’s two state-controlled oil & gas majors – GAIL (India) Ltd and Bharat Petroleum Corporation Ltd (BPCL). The deal involves IGL buying the financial investors’ stake in the company ......