Delhi: CDC Capital Partners (CDC), a UK-based venture
capital firm, has been accorded the right for acquiring
the Punjab state government''s 23.5-per cent stake in Punjab
of the Punjab government''s committee on disinvestment
ministry said CDC was the lone bidder and hence was offered
to bid at Rs 153 per share for the 23.5-per cent shareholding
in Punjab Tractors.
sale was approved at a discount, as compared with Friday''s
closing price of Rs 158.40 on the Bombay Stock Exchange.
The sale will bring in Rs 218 crore for the Punjab government.
will now have to get a clearance from the Foreign Investment
Promotion Board (FIPB) for the acquisition.
had indicated earlier that it would aim to work with the
management of Punjab Tractors and help globalise the company.