GDF sells stake in Petronet LNG for Rs 3,161 crore

French gas distribution and marketing company GDF International has sold its entire stake in Petronet LNG for over Rs 3,161 crore through bulk deals on the BSE.

According to data available, GDF sold three crore shares at Rs 422.17 per share (Rs 1,266.51 crore) and 4.5 crore shares at Rs 421.09 per share (Rs 1,894.9 crore) totalling to Rs 3,161.41 crore.

Prominent buyers in the bulk deal included Citigroup Global Markets Mauritius (1.05 crore shares at Rs 421 per share) and Stichting Depositary APG Emerging Markets Equity Pool (39.26 lakh shares at Rs 421 per share).

GDF had intimated in March 2017 that it plans to sell its entire 10% stake in the Indian company.

The four promoters of Petronet LNG are Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC), Gail India, Bharat Petroleum Corporation (BPCL). Each of these 4 companies hold a 12.5% stake in Petronet LNG.

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