Foreign fund house Merrill Lynch on Friday sold nearly two per cent stake in 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 Ltd, purchased 10.19 lakh shares amounting to 1.99 per cent stake in MCX.
The stocks 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 Bombay Stock Exchange (BSE).
As of December quarter, Merrill Lynch Holdings 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 $45 million (Rs 246 crore) due to poor response from investors.