Mitsui, Qatar in race to buy Petronet stake

May 02 2014, 12:49 IST
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Petronet LNG Ltd is India's largest natural gas importer. (Reuters) Petronet LNG Ltd is India's largest natural gas importer. (Reuters)
SummaryMitsui and sovereign wealth funds of Qatar, Abu Dhabi and Oman are keen to buy ADB stake in Petronet LNG.

four promoters made a strong pitch to buy the stake.

ADB norms also stipulate it to divest its equity holding in a company three years from the date of the entity going public. Petronet's IPO came in 2004 and ADB was supposed to exit Petronet in 2007, but was persuaded to stay on.

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