EnergyWatch

Engie seeks USD 512 million selling stake in India LNG importer

France's former natural-gas monopoly is striving to sell its entire stake in India's largest LNG importer in the hopes of raising USD 512 million.

Photo: Dong Energy, PR

Engie SA, France's former natural-gas monopoly, is seeking to raise as much as INR 33 billion (USD 512 million) selling its entire stake in India's biggest importer of liquefied natural gas.

Engie's GDF International unit is offering 75 million shares of Petronet LNG Ltd., equal to about a 10 percent stake, at INR 417 to INR 440 apiece, according to terms for the deal obtained by Bloomberg on Wednesday. The price range represents a 0 percent to 5.2 percent discount to Petronet's last close.

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