Citigroup acquires stake in Petronet LNG through Mauritius subsidiary

12 Jun 2017

Citigroup, Stichting Depositary APG Emerging Markets, and others have independently acquired French company GDF International’s stake in Petronet LNG through open market transactions.

The French firm has offloaded its entire 10 per cent stake in Petronet LNG for nearly Rs 3,200 crore. While Citigroup has acquired 1.05 crore shares of the company through its subsidiary, Citigroup Global Markets Mauritius, Stiching Depositary APG Emerging Markets has bought 39.26 lakh shares. It already has 79.51 lakh shares in the company.

Petronet LNG is engaged in sale of re-gasified liquefied natural gas (RLNG). The company is engaged in the import and re-gasification of liquefied natural gas (LNG). The company operates through the segment of natural gas business.

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