GDF Intl sells entire stake in Petronet

GDF Intl sells entire stake in Petronet

Frances GDF International today sold its entire 10 per cent stake in Petronet LNG for nearly Rs 3,200 crore through open market transactions. Petronet, Indias biggest importer of liquefied natural gas (LNG), is registered as a private company. GDF International, a unit of French energy giant Engie SA, offloaded a total of 7.5 crore shares, amounting to 10 per cent stake in Petronet, according to the bulk deal data available with BSE. The shares were sold at an average price of Rs 421.63, valuing the transaction at Rs 3,162.22 crore. As of March quarter, GDF held 7.5 crore shares, amounting to 10 per cent stake, in Petronet. Among the buyers of the shares are Citigroup Global Markets Mauritius and Stichting Depositary APG Emerging Markets Equity Pool. While Citigroup bought 1.05 crore shares of Petronet, Stichting Depositary APG bought 39.26 lakh shares. Read more

Credits:indiatoday

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