Mahanagar Gas Limited (MGL) announced that it had acquired 100 per cent stake of Unison Enviro Private Limited (UEPL).
Unison Enviro is a subsidiary company of Ashoka Buildcon Ltd.
This acquisition will enable MGL to expand their distribution network to Ratnagiri, Latur and Osmanabad in Maharashtra and Chitradurga & Davanagere in Karnataka.
The acquisition is subject to approval from the Petroleum and Natural Gas Regulatory Board.
UEPL has reported a turnover of 89.44 crores. The total cost of this transaction is estimated to be 531 crore.