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Chennai, Dec. 18

JBF Industries Ltd has informed the BSE that the company has concluded financial agreement with CVCIGP II client Rosehill Ltd, Mauritius and their affiliates (which are within the structure of Citigroup Venture Capital International Growth Funds, managed by Citigroup) whereby they have agreed to invest a sum of $125 million into JBF Global Pte Ltd, Singapore, a subsidiary of the company, by way of fully convertible securities. Out of the total investment, the first trench of $75 million has already been invested in JBF Global and the rest will be invested shortly. These funds will be used for the purpose of expanding international business of the company and acquiring or investing in overseas projects. —

Our Bureau

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