Gujarat Gas Limited (NSEI:GUJGASLTD) agreed to acquire Gujarat State Petronet Limited (NSEI:GSPL) for INR 260 billion on August 30, 2024. The consideration consists of the common equity of Gujarat Gas Limited at a ratio of 0.769231 per common equity of Gujarat State Petronet Limited. Ernst & Young LLP acted as tax advisor to GGL, Shardul Amarchand Mangaldas & Co acted as legal advisor to GGL.
Saffron Capital Advisors Private Limited acted as a fairness opinion provider to GGL and Fortress Capital Management Services Private Limited acted as a fairness opinion provider to GSPL.
