27th Nov 2013 15:56
LONDON (Alliance News) - EIH PLC Wednesday said its investee company, EILSF Co-Invest I, has entered into an agreement to sell its shareholding in Gland.
The Indian private equity fund said it entered into the agreement with KKR Floorline Investments Pte. Ltd, which if completed means that EIH will receive roughly USD20 million, before any retentions made by EILSF Co-Invest I, the costs of obtaining insurances against indemnity and transaction costs.
The company said the agreement is conditional on a number of conditions, including approval from the Foreign Investment Promotion Board of the Indian Ministry of Finance.
EIH shares were up 5.9% to 0.45525 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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