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Istithmar sells SpiceJet stake for 1.6 bn rupees



05 February 2010 @ 10:47 am IST

Istithmar World Capital, the investment arm of Dubai World, has sold its entire 13.4 percent holding in budget airline SpiceJet, a source with direct knowledge of the deal said on Friday.


Istithmar World Capital, the investment arm of Dubai World, has sold its entire 13.4 percent holding in budget airline SpiceJet, a source with direct knowledge of the deal said on Friday.
Istithmar World Capital, the investment arm of Dubai World, has sold its entire 13.4 percent holding in budget airline SpiceJet, a source with direct knowledge of the deal said on Friday.
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Istithmar sold its stake via two block deals for a total consideration of around 1.6 billion rupees to a couple of domestic funds and an FII, the source said, which three other bankers confirmed.

Bank of America Merrill Lynch was the sole arranger of the deal, they said.

This article is copyrighted by Reuters.

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