29 Aug 07 Nagarjuna Construction raises Private Equity funds from Blackstone

Nagarjuna Constructions has informed the stock exchanges that the board of Nagarjuna Construction has approved raising funds from leading private equity player Blackstone Group. Blackstone Group is the largest private equity group. Nagarjuna Construction will dilute 14.5% stake to raise Rs. 615 crores from the Rs 615 Blackstone Group. With a 14.5% stake, Blackstone will get representation on the board of Nagarjuna Construction.

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