Merrill Lynch sells 2% stake in MCX for Rs 104 cr
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Merrill Lynch sells 2% stake in MCX for Rs 104 cr

Last Updated: Friday, March 8, 2013, 19:39
 
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Merrill Lynch sells 2% stake in MCX for Rs 104 cr
Mumbai: Foreign fund house Merrill Lynch Friday sold nearly two percent stake in India's premier commodity bourse MCX for about Rs 104 crore.

Private equity giant Blackstone picked up the shares purchased from Merrill Lynch Holdings (Mauritius) through open market transaction.

According to information available with the stock exchanges, the private equity firm, through its entity Blackstone GPV Capital Partners Mauritius VI FII Ltd, purchased 10.19 lakh shares amounting to 1.99 percent stake in MCX.

The scrips were purchased on an average price of Rs 1,020 valuing the deal size to Rs 104.03 crore, the data showed.

Shares of MCX fell 4.5 percent to close at Rs 970.10 apiece on the BSE.

As of December quarter, Merrill Lynch Holdings (Mauritius) held 24.42 lakh shares or 4.79 percent stake in MCX.

According to sources, NYSE Euronext had called off plans, yesterday, to sell its entire 4.79 percent stake in MCX for about USD 45 million (Rs 246 crore) due to poor response from investors.

PTI



First Published: Friday, March 8, 2013, 19:39


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