Thai Union Sells 4.4% Stake in Avanti Feeds for Rs 435 Crore

New Delhi, Mar 4 (PTI) Thai Union Group on Tuesday divested 4.4 per cent stake in Avanti Feeds for Rs 435 crore through an open market transaction.

Thailand-based Thai Union Group is a producer of seafood based products.

According to the block deal data available on the National Stock Exchange (NSE), Thai Union Group through its arm Thai Union Asia Investment Holding sold 59.77 lakh shares, amounting to a 4.4 per cent stake in Avanti Feeds.

The shares were disposed of at an average price of Rs 728 apiece, taking the transaction value to Rs 435.15 crore.

After the stake sale, Thai Union Asia Investment Holding's stake has reduced to 4.37 per cent from 8.77 per cent.

Also, the combined holding of Thai Union Group through its affiliates in Avanti Feeds has also decreased to 19.81 per cent from 24.21 per cent.

These shares were acquired by IIFL Facilities Services Ltd at the same price.

On Tuesday, shares of Avanti Feeds rose 1 per cent to close at Rs 735 apiece on the NSE.