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India's GAIL Looking to Acquire US Shale Gas Assets

Source: Reuters 1/18/2011, Location: North America

Indian state-run gas firm GAIL (India) Ltd is scouting for shale gas assets in the United States and is willing to invest around $400-$500 million, the Mint newspaper reported, citing two unnamed people familiar with the development.

GAIL is likely to look at an asset that was already in production and would be open to either investing in an asset or picking up equity in specific firms, the paper said, adding the company was also open to partner another state-run oil and gas company for the planned venture.

The paper said GAIL had issued a request for proposals in December from merchant bankers who can help it identify potential targets and eventually close a deal.

GAIL officials could not be immediately reached for a comment.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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