Total SA, a French oil and gas giant, is nearing to buy a stake in Indian gas distribution company Adani Gas, part of Adani Group.
Under the transaction, Total will pay 5,500 crore rupees ($800 million) for a 30 percent stake in Adani Gas.
The move is anticipated to trigger an open offer to public shareholders of Adani Gas, and Total may end up having a roughly equal stake in Adani Gas as the company's promoter.
More so, Total generates approximately $209.3 billion in revenue annually.