Provogue sells further stake in realty unit

Provogue sells further stake in realty unit
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First Published: Mon, Oct 06 2008. 10 59 AM IST
Updated: Mon, Oct 06 2008. 10 59 AM IST
Reuters
Mumbai: Apparel retailer Provogue (India) Ltd said on Monday UK’s LTG International Ltd will invest Rs569.7 million to pick up 3.36% stake in a unit of real estate arm Prozone Enterprises Pvt Ltd.
LTG is founded by Lewis Trust Group of UK and Prozone is a joint venture between Provogue and Liberty International Plc, according to a company statement.
In April, Provogue sold 27% stake in the unit for Rs4.57 billion to Triangle India Real Estate Fund, founded by Old Mutual Investment and ICS Realty. Provogue shares were trading 1.89% lower at Rs137.40 in a weak Mumbai market.
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First Published: Mon, Oct 06 2008. 10 59 AM IST