Omera Petroleum Acquires TotalGaz Bangladesh

Omera Petroleum Limited is set to acquire the LPG business of the French company TotalGaz in Bangladesh. The joint venture Premier LP Gas Limited has been operating under the TotalGaz banner in the country until now.

Recently, Omera Petroleum has signed an agreement to purchase nearly 100% of TotalGaz's shares. According to an announcement on the Dhaka Stock Exchange website, Omera will acquire 99.99% of TotalGaz's shares for an estimated value of Tk 227 crore. The deal is currently awaiting approval from relevant regulatory authorities.

Industry experts state that this consolidation will increase Omera's market share in Bangladesh's LPG sector and strengthen its position. TotalGaz began operations in Bangladesh in 2002 and quickly became one of the top three LPG importers and marketers. However, due to significant investments by local companies, TotalGaz gradually lost its market influence over time.

This share acquisition announcement had minimal impact on the share price of Omera's parent company, MJLBD. On Monday, the company's shares rose by only 2%, closing at Tk 101.50. The company has paid 52% cash dividends in 2024, 50% in 2023, and 50% in 2022.

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