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BG Group believes that the recent sale of its majority stake in Gujarat Gas to Gujarat-Government controlled GSPC happened at a fair price. On whether BG sold Gujarat Gas cheap, Sami Iskander, Executive VP and MD, Africa, Central and. South Asia, BG Group said this was not the case.
BG’s sale price of Rs 295 a share of Gujarat Gas was sharply lower than the Rs 400 or so the share was trading at when the auction process began last November. Commenting on this, Iskander said the stock market fluctuates in a big way. He said the company was in no rush to exit the business. He did not comment on whether BG Group plans to exit other city gas distribution businesses, such as Mahanagar Gas.
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