Blackstone bought an additional 2.79% stake in Mumbai's Multi Commodity Exchange (MCX) for INR81 crore on Monday, according to Times of India.
The said purchase was made after the Forward Markets Commission granted approval to the American multinational private equity giant to hike its holding in the commodity bourse. The deal brings Blackstone's stake in MCX to 4.99%, the report explained.
Based on information disclosed to the stock exchanges, foreign fund house Merrill Lynch exited all of its 14,22,245 MCX shares to Blackstone GPV Capital Partners Mauritius VI FII Ltd. The shares amounted to a 2.79% stake, the report detailed.
Merrill Lynch's shares were offloaded at an average price of INR573 apiece. This valued the whole transaction at INR81.49 crore, the report added.
As of the September quarter, Blackstone held a 2% stake in MCX, Times of India reported.
Multi Commodity Exchange of India Ltd (MCX) is a Mumbai, India-based independent commodity exchange. It was established in 2003 and is currently regulated by the Forwards Market Commission, according to its web profile.
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