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