China’s Ant Group to sell 4% stake in Paytm for $242 million, term sheet shows

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China’s Ant Group will sell a 4% stake in Indian payments firm Paytm for $242 million, a term sheet seen by Reuters on Monday showed. Ant, an affiliate of Chinese conglomerate Alibaba Group , will sell the stake at Rs 809.75 per share, a discount of 6.5% to Paytm’s closing price on Monday.

It was not immediately clear who the buyers would be.

Goldman Sachs India Securities and Citigroup Global Markets India will lead the sale, the term sheet showed.

Paytm and Ant Group did not immediately reply to a request for comment.


Paytm has seen a…



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China’s Ant Group to sell 4% stake in Paytm for $242 million, term sheet shows


China’s Ant Group will sell a 4% stake in Indian payments firm Paytm for $242 million, a term sheet seen by Reuters on Monday showed. Ant, an affiliate of Chinese conglomerate Alibaba Group , will sell the stake at Rs 809.75 per share, a discount of 6.5% to Paytm’s closing price on Monday.

It was not immediately clear who the buyers would be.

Goldman Sachs India Securities and Citigroup Global Markets India will lead the sale, the term sheet showed.

Paytm and Ant Group did not immediately reply to a request for comment.


Paytm has seen a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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