September 14, 2017 / 1:09 PM / 5 months ago

Goldman units to sell up to $110 million stake in India's Max Financial

MUMBAI (Reuters) - Goldman Sachs will sell shares worth up to $110 million in India’s Max Financial Services Ltd (MAXI.NS) on Friday, according to a deal term sheet seen by Reuters.

Two Goldman units are offering to sell a 4.42 percent stake, or 11.8 million shares, in Max Financial in a block trade, the term sheet showed.

    The share sale’s floor price has been set at 595 rupees, which is a 0.8 percent discount to the stock’s Thursday closing price.

    Citi is the sole bookrunner.

    In April, Goldman sold a 3.7 percent stake in Max Financial.

    Reporting by Savio Shetty and S. Anuradha; Editing by Mark Potter

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