GDF International will sell its entire 10 percent stake in India’s Petronet LNG in block trades on Thursday for up to $512 million, according to a deal term sheet.
GDF will sell the shares in a price range of Rs 417-440 a share, according to the term sheet.
The price range is a nil to 5.2 per cent discount to Petronet’s Wednesday closing price of Rs 440.
JPMorgan and Citi are the banks on the deal.
Source: Business-Standard