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GDF to sell entire 10 percent in Petronet LNG for up to $512 million - term sheet
June 7, 2017 / 12:19 PM / 3 months ago

GDF to sell entire 10 percent in Petronet LNG for up to $512 million - term sheet

MUMBAI (Reuters) - GDF International will sell its entire 10 percent stake in India’s Petronet LNG Ltd 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 417 rupees to 440 rupees a share, according to the term sheet.

The price range is a nil to 5.2 percent discount to Petronet’s Wednesday closing price of 440 rupees.

JPMorgan and Citi are the banks on the deal.

Reporting by S. Anuradha of IFR; Writing by Devidutta Tripathy; Editing by Subhranshu Sahu

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