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Friday, Feb 17, 2006


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FIM Ltd buys 60 pc equity in Indiabulls Infrastructure

Our Bureau

Mumbai , Feb. 16

INDIABULLS Financial Services Ltd said FIM Ltd, a company incorporated in the Mauritius and managed by Farallon Capital Management LLC based in San Francisco, the US, has bought 60 per cent equity in Indiabulls Infrastructure Ltd (IIL) for a consideration of Rs 15 crore.

Farallon Capital Management LLC is an investment advisor registered with the US Securities and Exchange Commission managing over $15 billion in private assets for some of the leading institutions.

Institutional Investor magazine, a leading international publication focusing on the investment management industry, has ranked Farallon Capital Management LLC as one of the largest and most prestigious private investment partnership in the US.

In a notice to the BSE, Indiabulls said it has invested Rs 10 crore in IIL and now owns 40 per cent stake in the company. IIL has been incorporated primarily with the objective of engaging and participating in the construction and development of immovable properties and development of infrastructure in the country.

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