Rabobank Said to Sell Stake Worth $86.3 Million in Yes Bank

Rabobank Groep NV sold 4.5 billion rupees ($86 million) of shares in India’s Yes Bank Ltd. (YES), said a person with direct knowledge of the matter.

Rabobank sold 12.7 million shares at 357 rupees apiece, the person said, declining to be identified as the information is private. Yes Bank fell 2.3 percent to 357.65 rupees at close of trading in Mumbai.

Citigroup Inc. (C) helped sell the shares, according to the person. Tai Djoe Lim in Rabobank’s Singapore press office didn’t immediately respond to an e-mail seeking comment.

A Yes Bank stake of 3.4 percent changed hands today in three blocks, according to exchange data that didn’t identify the seller.

-- With assistance from Hemal Savai in Mumbai. Editors: Abhay Singh, Sam Nagarajan

To contact the reporter on this story: Ruth David in Mumbai at rdavid9@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net

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