Citigroup Venture Capital International (CVCI), the private equity arm of Citigroup, has increased its stake in mid-sized pharma firm Elder Pharmaceuticals from 9.5 per cent to 14 per cent. CVCI had acquired around 9.5 per cent stake in Elder Pharma in 2004. The private equity fund has been increasing its holding in the company for the past year through open market purchases.

Citi’s average acquisition price is not available. Elder stock is currently trading at Rs 280 ($6.2) [Via The Economic Times]

Posted on 03/30/06, 2:09 PM
in: Deals, Main Page, Private Equity
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