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ICICI Ventures may sell majority stake in Infomedia

CNBC-TV18 has learned that ICICI Ventures is likely to sell majority stake in Infomedia.

ICICI Ventures currently holds 63% stake in Infomedia. Sources say that ICICI Ventures is in talks with the USD 8.5 billion Reed Elsevier Group for the stake sale. ICICI Ventures may sell the entire stake or part of it depending on valuations. The entire stake is valued at Rs 235 crore at the current market price.

ICICI Ventures had acquired Infomedia from Tatas in 2003 at Rs 88 per share.

The management of ICICI Ventures was not available for comments while the management of Reed Elsevier said that it cannot  'comment on market speculation'.

Infomedia India has a 51-49 JV with Reed Business Info, a division of Reed Elsevier. The joint venture is to license over 100 titles from RBI into India. 

Source : Money Control

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