China's Ant Group to exit India's Paytm, term sheet shows
Ant, an affiliate of Chinese conglomerate Alibaba Group (9988.HK), opens new tab, will sell its 5.84% stake at a floor price of 1,020 rupees per share.
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 Reuters' requests for comment.
The payments firm, listed as One 97 Communications, has seen multiple share sales in the past two years, including the exit of Warren Buffett's Berkshire Hathaway (BRKa.N), opens new tab and Japan's SoftBank Group (9984.T), opens new tab, according to exchange data.
Ant had sold a 4% stake in Paytm in May and a 10.3% stake in August 2023.
($1 = 87.6150 Indian rupees)
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