September 14, 2017 / 1:11 PM / 4 months ago

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

MUMBAI, Sept 14 (Reuters) - Goldman Sachs will sell shares worth up to $110 million in India’s Max Financial Services Ltd 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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