GDF to sell entire 10% stake in Petronet LNG for up to $512 million

• Posted in OilGas
• on June 8, 2017
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GDF International will sell its entire 10 per cent 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.
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