Friday 2 May 2014

Mitsui and sovereign wealth funds of Qatar, Abu Dhabi and Oman keen to buy stake in Petronet - The Economic Times

Mitsui and sovereign wealth funds of Qatar, Abu Dhabi and Oman keen to buy stake in Petronet - The Economic Times:



"Japan's Mitsui and cash-rich sovereign wealth funds of Qatar, Abu Dhabi and Oman are keen to buy Asian Development Bank's 5.2 per cent stake in Petronet LNG LtdBSE 0.07 %, India's largest natural gas importer.



ADB had in 2011 decided to sell its 5.2 per cent stake in Petronet but could not go ahead as promoter PSUs like gas utility GAILBSE 0.19 % refused to waive off their first right of refusal.



However, with the Oil Ministry refusing permission to public sector oil companies to buy the stake on ground that such a move will alter the character of Petronet, the promoters have fallen in line and all of them including GAIL giving consent. "



'via Blog this'

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