Deals
Engie Seeks to Sell Interest in India's Biggest LNG Importer
- French gas utility offers its 10% stake to Petronet founders
- Engie’s shares in Indian company valued at 29 billion rupees
This article is for subscribers only.
Engie SA, France’s former natural-gas monopoly, plans to sell its entire 10 percent holding in India’s biggest importer of liquefied natural gas.
Engie unit GDF International has written to the four Indian state companies that together own half of Petronet LNG Ltd. to offer shares in proportion to their holding, Petronet said Thursday in a filing. Engie, which invested in 2001, said in a separate statement it considers its stake “mainly a financial participation” and retains a “strong belief in PLL’s long-term growth potential.”