GDF to sell entire 10% stake in Petronet for up to $512 mn

GDF International will sell its entire 10 percent stake in India's Petronet LNG Ltd in block trades on Thursday for up to $512 million, according to a deal term sheet.

GDF will sell the shares in a price range of 417 rupees to 440 rupees a share, according to the term sheet.

The price range is a nil to 5.2 percent discount to Petronet's Wednesday closing price of 440 rupees.

JPMorgan and Citi are the banks on the deal.