In view of certain news articles regarding sale of stake by BG Asia Pacific Holdings Pte. Limited ultimately owned by Royal Dutch Shell, Mahanagar Gas Limited (MGL) would like to state that, since this is the prerogative of Promoters, MGL has nothing to comment. MGL is an independent Board Managed Company with proven track record in City Gas Distribution (CGD) business. Day to day decisions are taken by Apex Executive Committee. Except one whole time Director each from GAIL & BG (Shell), all other members of Apex Executive Committee are company executives with long experience in CGD industry. MGL is abreast with the latest technologies as applicable to its areas of operations and is a self-reliant, financially sound company. In fact, there was an indirect change in holding of one promoter, when in February 2016, Royal Dutch Shell acquired BG (British Gas) worldwide. The business did & will continue as normal, irrespective of any change in shareholding.
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