21.07.2015 - Malaysian fund Khazanah exits India’s L&T, makes 15% gross return
Malaysian sovereign wealth fund Khazanah Nasional Bhd (Khazanah) has exited its four-year-old investment in India-based L&T Finance Holdings Ltd, the public-listed financial services unit of conglomerate Larsen and Toubro Ltd (L&T). The sovereign fund, which had a remaining 1.1 per cent stake in L&T, pocketed around Rs 120 crore ($19 million) from the sale of its last shareholding, according to VCCircle. The fund is estimated to have made around 15 per cent gross return on its four-year-old investment in local currency. In dollar terms, it has booked a loss, as per VCCircle estimates...............................................Full Article: Source
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