M&A

M&A

Confidence Petroleum arm acquires 75% stake in oxygen-cylinder maker Sarju Impex

BSE Disclosure  

Futuristic Energetech, a subsidiary of Nagpur-based, publicly-listed Confidence Petroleum India Ltd, has acquired a 75% stake in Gujarat-based Sarju Impex. Sarju has an operational unit in Dahej SEZ that manufactures 1,80,000 high-pressure oxygen and CNG cylinders a year. Confidence seeks to use the acquisition for integration plans within the CNG value chain.