CVCI offloads 14.3% stake in India's JBF Industries
Citigroup Venture Capital International (CVCI) has sold a 14.3% stake in India’s JBF Industries for INR120 crore ($25.4 million) on the Bombay Stock Exchange, with Reliance Capital Trustee Co. in turn picking up 2.55 million shares for a 4.1% stake in the company.
CVCI offloaded 8.9 million shares in the company, which makes polyester chips and yarn. In all, the PE unit has exited approximately 75% of its full stake in the Mumbai-based company since March, when...
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