Private Equity firm KKR cuts down stake in CG Power
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New Delhi, Aug. 21 -- Private Equity giant KKR on Friday further divested 18.07 million or 2.88% stake in troubled firm CG Power & Industrial Solutions Ltd for Rs.30.54 crore through an open market transaction.
As per the block deal data available on the exchange, KKR India Debt Opportunities Fund II sold 34,64,021 equity shares in company at Rs.16.95 per share on the BSE, while KKR India Financial Services offloaded 50 lakh shares at same price on the BSE and 96,10,588 shares at Rs.16.85 per share on the NSE.
Recently, L&T Finance exited CG Power by selling its entire 10% stake in two block deals. KKR India Debt Opportunities Fund II still holds 9.5 lakh shares of CG Power.
From the beginning of the year, CG Power has gained 56.65% ag...
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