Mubadala, others eye stake in I Squared’s India gas business

Mubadala Investment, along with a few Japanese investors including Sumitomo, is looking to acquire a 30 per cent stake in the Indian natural gas distribution business of I Squared Capital. The company owns two city gas distribution companies in India — Think Gas Distribution and AG&P Pratham. The company plans to merge the two businesses and sell a stake at a valuation of $1 billion.