Citibank group to pickup a 5.75 per cent stake in Ansal Properties & Infrastructure

The Citibank group has said that it would be picking up a 5.75 per cent stake in Ansal Properties & Infrastructure Ltd.

This deal would be conducted through their affiliates — CBC Bahrain and Citigroup Venture Capital International Growth Partnership Mauritius Ltd.

Ansal Properties would as a result issue 28,83,149 equity shares of Rs 5 face value at a price of Rs 610 per share to the Citi group affiliates.

The Ansal board has approved this business transaction though it would still require shareholders approval.

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