In a notable development, Mahanagar Gas Limited (MGL) has completed the acquisition of 100 per cent equity stake in Unison Enviro Private Limited.
The Petroleum and Natural Gas Regulatory Board (PNGRB) had approved the acquisition process in December 2023.
Earlier, MGL had signed an agreement with Unison Enviro’s promoters, Ashoka Buildcon and investment fund managed by Morgan Stanley India Infrastructure to acquire the company.
MGL is one of the country’s leading natural gas distribution companies. It has a natural gas distribution network in Mumbai and its adjoining areas and is promoted by GAIL (India) Limited.