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Investors sell stake in CUGL to Indraprastha Gas
July 2, 2013July 2, 2013by In Oil & Gas

Investors sell stake in CUGL to Indraprastha Gas

IDFC Private Equity, IL&FS Investment Managers and the Asian Development Bank (ADB) sold their cumulative 50 percent stake in Kanpur-based Central UP Gas (CUGL) to Indraprastha Gas for about Rs 70 crore. These three organisations invested Rs 30 crore in CUGL in 2006. While IDFC Private Equity and IL&FS Investment Managers held 15 percent stake each, ADB held 20 percent stake