Business Daily from THE HINDU group of publications
Friday, February 15, 2008
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Business Daily from THE HINDU group of publications Friday, February 15, 2008 |
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News Update as at 18.00 hrs (IST)
Corporate LN Mittal, Fallaron buy stake in Indiabulls power unit
Mittal, who already owns 1.16 per cent of Indiabulls Real Estate, would buy 14.1 per cent through LNM India Ventures Ltd, while a unit of Farallon would hold 23.4 per cent in Sophia Power Company. It also said it was planning to merge Sophia Power with I ndiabulls Power Services Ltd, a 100 per cent subsidiary. Subsequently, Farallon Capital will hold 17.9 percent in the merged entity and Mittal will own 10.7 per cent, it said. The company gave no further details.
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