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ENS ECONOMIC BUREAU
MUMBAI, Dec 20: JF Electra (Mauritius) Ltd, the private equity arm of Electra Fleming and Jardine Fleming, said on Sunday it had invested $8 million for a 36 per cent stake in Moser Baer India Ltd.
Moser Baer India Ltd is a manufacturer and exporter of computer floppy disks. The investment will be partly used to fund a factory for the manufacturing of CD-recordable blank optical media for export to the US and European majors in the data media industry, Jardine Fleming India, the advisers to the deal, said in a statement.
The International Finance Corporation, Washington and the company's management have invested $3.36 million in additional equity for the new factory, the statement said. The debt requirements for the project have been tied up from the State Bank of India, Exim Bank and the Industrial Development Bank of India, it added. "This is the 6th investment made by JF Electra in the three years of its operations in India.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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