India's Swan Energy to sell stake in LNG terminal for $399 mln

Swan

14/08/2024 14:12

BENGALURU, Aug 14 (Reuters) - Indian oil & gas firm Swan
Energy  SWAN.NS  plans to sell a stake in one of its liquefied
natural gas (LNG) terminals to Turkish state energy company
BOTAS in a deal worth $399 million, it said in an exchange
filing on Wednesday.
    Swan Energy is the majority owner of Triumph Offshore Pvt
Ltd (TOPL), the company that owns the LNG terminal in question.
    Fertiliser firm Indian Farmers Fertiliser Cooperative
(IFFCO) controls the rest, according to IFFCO's website. 
    Swan Energy bought a 49% stake in Triumph for a deal worth
4.4 billion rupees ($52.43 million) from IFFCO in June. 
        
($1 = 83.9210 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru; Editing by Janane
Venkatraman)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))