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Jyothy Labs denies is in talks to sell 26% to PE funds

Jyothy Labs denies is in talks to sell 26% to PE funds
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First Published: Thu, May 05 2011. 01 17 PM IST
Updated: Thu, May 05 2011. 01 17 PM IST
Mumbai: Jyothy Laboratories on Thursday denied a newspaper report that it was in talks with private equity funds to sell 26% stake.
“Select reports appearing in various newspapers for the past few weeks are speculative in nature and the company would not like to comment on such rumours and speculations,” it said in a statement to the Bombay Stock Exchange (BSE).
Earlier in the day, The Times of India reported that a global private equity player is set to acquire at least 26% in the company for about $150 million, sending its shares higher.
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First Published: Thu, May 05 2011. 01 17 PM IST