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Merrill Lynch sells 2 pc stake in Multi Commodity Exchange for Rs 104 cr

Private equity giant Blackstone picked up the shares purchased from Merrill Lynch Holdings through open market transaction.

Written by PTI | Mumbai | Published: March 8, 2013 10:41:08 pm

Foreign fund house Merrill Lynch today sold nearly two per cent stake in India’s premier commodity bourse Multi Commodity Exchange (MCX) for about Rs 104 crore.

Private equity giant Blackstone picked up the shares purchased from Merrill Lynch Holdings (Mauritius) through open market transaction.

According to information available with the stock exchanges,the private equity firm,through its entity Blackstone GPV Capital Partners Mauritius VI FII Ltd,purchased 10.19 lakh shares amounting to 1.99 per cent stake in MCX.

The scrips were purchased on an average price of Rs 1,020 valuing the deal size to Rs 104.03 crore,the data showed.

Shares of MCX fell 4.5 per cent to close at Rs 970.10 apiece on the BSE.

As of December quarter,Merrill Lynch Holdings (Mauritius) held 24.42 lakh shares or 4.79 per cent stake in MCX.

According to sources,NYSE Euronext had called off plans,yesterday,to sell its entire 4.79 per cent stake in MCX for about USD 45 million (Rs 246 crore) due to poor response from investors.

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