LAUGFS Gas PLC, which own 69% of Laugfs Bangladesh LP has acquired the remaining 31% share of Elpigi Sd. Bhd. Malaysia valued at US$ 9.5 million.
This has being done through their solely owned subsidiary of Slogal Energy DMCC Dubai.
LAUGFS Gas, made history in 2015 by becoming a multinational with its first overseas acquisition of one of the largest LPG downstream companies in Bangladesh. LAUGFS Gas PLC acquired controlling interests of Petredec Elpiji Ltd. (PEL), at an investment of $ 18.75 million.
PEL was one of the first to enter the downstream LPG business in Bangladesh during 1997, and was later acquired by Australian energy giant Kleenheat Australia.
LAUGFS Gas was established in 2001 with its entry into the local LPG downstream industry, and has since expanded rapidly to become a dominant player in the energy sector. In 2010, LAUGFS Gas PLC was listed in the Colombo Stock Exchange.
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