BG to sell stake in Indian gas distributor

BG Group has agreed to sell its majority interest in Gujarat Gas Co. Ltd., India’s largest nongovernment gas distribution company, for $470 billion.

BG Asia Pacific Holdings Pte. will sell the 65.12% interest to GSPC Distribution Networks Ltd., a subsidiary of Gujarat State Petroleum Corp.

Subject to regulatory approval, the transaction will be complete in the first half of 2013.