Private Equity firm KKR cuts down stake in CG Power
Private Equity giant KKR on Friday further divested 18.07 million or 2.88% stake in troubled firm CG Power & Industrial Solutions Ltd for ₹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 ₹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 ₹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.
