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Srei unit offloads United Spirits shares

LiveMint logoLiveMint 13-06-2014 Pooja Sarkar

New Delhi: India Global Competitive Fund, a debt fund managed by SREI Venture Capital Ltd, a part of Srei Group, on Friday has sold 2.2 million shares, or a 1.51% stake it held in the largest alcohol producer in the world by volumes, United Spirits Ltd, for `597.8 crore.

The transaction was reported in the bulk deals segment.

Hemant Kanoria, chairman and managing director, Srei Group, said the transaction must have taken place from the trust which owns the shares.

In June 2012, Srei Infra Finance Ltd had bought now defunct airline Kingfisher Airlines Ltd’s debt of `430 crore from ICICI Bank.

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