Confidence Petro Acquires Bangalore-Based Sneha Petroleum
Confidence Petroleum India Limited (CPIL) has acquired Bangalore-based Sneha Petroleum.
Sneha Petroleum is engaged in providing services of LPG bottling, LPG storage facility, DPT job work for Bharat Petroleum and also in marketing of its own brand AGNI in Bangalore and Karnataka market for industrial and commercial segment.
This acquisition will help CPIL by way of feeding market of auto LPG, industrial LPG, LPG bottling assistance and DTP business in the Southern region. The acquisition will also help CPIL to save huge amount on storage of LPG required to feeds its auto LPG stations (ALDS) in Karnataka, Tamil Nadu, Andhra Pradesh and nearby markets.
Transaction Reference: Myiris
Confidence Petroleum is into LPG & allied business like cylinder manufacturing, bottling assistance to oIL major PSU, CNG & high pressure cylinder manufacturing, auto LPG dispensing stations, ethanol, crude distillation, LPG/CNG engineering services and logistics streams.
In 2008-09, Confidence Petroleum India Ltd has acquired Confidence Go Gas Limited, Agwan Coach Private Limited, Keppy Infrastructure Pvt Ltd, Laxmi Nirmal Petrochemicals Pvt Ltd, 80% stake in Garg Distilleries Pvt Ltd & 70% stake in PT Surya Go Gas Indonesia. It also bought LPG cylinder manufacturing unit of JR Fabricators.
Confidence Petroleum has also invested Rs.1,66,00,000/- in the stake of Viredra Petrochemicals Pvt. Ltd.
For Q1 FY2011, on a consolidated basis, Confidence Petroleum reported a turnover of Rs.192 crore with a PAT of Rs.10.5 crore.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 06/09/10 | Sneha Petroleum - Confidence Petroleum | M&A | Confidence Petroleum India Limited | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 03/02/12 | Private Equity | Goldman Sachs Capital Partners | Aban Offshore Limited (Aban Loyd Chiles Offshore Limited) | 4.59 | Completed |
| 25/01/12 | M&A | ONGC Videsh Limited | OAO Yamal LNG | - | Planned |
| 23/01/12 | M&A | Ocean Sparkle Limited | Tag Offshore Limited | 79.68 | Called Off |
| 12/01/12 | M&A | Oil India Limited | Cove Energy Plc | - | Planned |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Confidence Petroleum India Limited | Nitin Punamchand Khara | B-13, Prabhu Kripa Society, Nanda Patkar Road, Near Telephone Exchange, Vile Parle (East),Mumbai 400057, Maharashtra, India |
Chennai Petroleum Corporation Limited Indian Oil Corporation Limited |
www.confidencepetro.com |
| Sneha Petroleum | #228/5, Krishnaveni Manson, Near Divakar Hospital, 9th Main, 9th Cross, 2nd Phase, J P Nagar, Bangalore - 560078 | |||
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