GIC part-exits seven-year-old investment in Adani Ports & SEZ for close to $51M, 7 Jun 2013
Singapore’s sovereign wealth fund GIC has sold over half of its stake in Adani Ports & Special Economic Zone Ltd, India's largest private port and special economic zone operator, for Rs 290 crore ($50.8 million) through a secondary market transaction.
GIC had co-invested with private equity firm 3i through optionally convertible bonds back in 2006 which on conversion gave both the investors around 1.7 per cent stake after the company went public in November 2007. While 3i had sold its stake in the firm way back in 2009, GIC has been holding on to its stake. Full story