Laugfs’ Dubai trading arm acquires 31% of firm’s B’desh operations

The recently set up trading unit of Laugfs Gas PLC, the only private sector LP gas distributor in the country, has acquired a 31 percent of the group’s Bangladeshi operations, a stock market filing said. Slogal Energy DMCC, a fully owned subsidiary of Laugfs Gas incorporate in Dubai, accordingly acquired 847, 428 shares, representing 31 percent of Laugfs Gas Bangladesh Limited, formerly known as Petredec Elpiji Limited. The filing said Laugfs Gas itself owns the balance 69 percent shareholding of Laugfs Bangladesh Limited. The firm is engaged in down-streaming business of LP gas in Bangladesh.