GIC Hsg to sell stake in LIC MF, LICMF Trustee for Rs 89 cr
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B. Karthick
Jun 15, 2009, 5:33:26 AM6/15/09
to Kences1
GIC Housing Finance today said it will sell its entire holding in LIC
Mutual Fund Asset Management Company as well as LIC MF Trustee Co for
a consideration of around Rs 89 crore.
The board of directors at its meeting on June 13 have decided on a
strategic sale of its entire holding of 11.2 per cent in LIC Mutual
Fund Asset Management and also its entire holding of 3 per cent in
LICMF Trustee Co for Rs 89 crore, the company said in a filing to the
Bombay Stock Exchange.
The approval is subject to LIC Mutual Fund Asset Management, LICMF
Trustee and the purchaser complying with the rules and regulations as
applicable, the filing added.
Shares of GIC Housing were trading at Rs 86.20, up 5.64 per cent on
the BSE in morning trade.
L. Rames
Mutual Fund Asset Management Company as well as LIC MF Trustee Co for
a consideration of around Rs 89 crore.
The board of directors at its meeting on June 13 have decided on a
strategic sale of its entire holding of 11.2 per cent in LIC Mutual
Fund Asset Management and also its entire holding of 3 per cent in
LICMF Trustee Co for Rs 89 crore, the company said in a filing to the
Bombay Stock Exchange.
The approval is subject to LIC Mutual Fund Asset Management, LICMF
Trustee and the purchaser complying with the rules and regulations as
applicable, the filing added.
Shares of GIC Housing were trading at Rs 86.20, up 5.64 per cent on
the BSE in morning trade.
L. Rames
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