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New Deal


Announced

ONGC and EverEnviro Resource to form a joint venture.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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Acquisition

biogas plant

Majority

Pending

India

Alternative Fuels

Private

Domestic

Friendly

Single Bidder

Synopsis

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Indian state-run energy producer Oil and Natural Gas Corporation, and EverEnviro Resource, a biogas company, agreed to form a joint venture to establish compressed biogas plants across India. The board of ONGC, in a recent meeting, granted in-principle approval for the formation of joint venture companies with EverEnviro and another entity. The joint ventures will focus on setting up 15 CBG plants, utilising diverse feedstocks such as municipal solid waste, agricultural waste, and agro-industrial waste.

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