Leighton Holdings has sold a 35% stake in its Leighton India subsidiary through its group company, Welspun Infra Projects, The Wall Street Journal reports. Local conglomerate, Welspun Group, paid $104 million for the stake.
The sale was announced in December 2010. Welspun Corporation is investing $33.86 million, while Welspun Infra Developers is investing $22.57 million in the deal, adds The Economic Times. The balance $49.66 million is funded by external debt.
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