LG Soft India gets equity investment from AIG

By : |October 27, 1999 0

BANGALORE: LG Soft India, part of the Korea-based LG Group and wholly- owned subsidiary of LG Electronics Inc, has announced the conclusion of an equity funding investment by the AIG Indian Sectoral Equity Fund. AIG is the fund sponsor as well as an investor in the fund, which invests in infrastructure and related projects in India. Under the terms of the equity funding arrangements, the fund, through its Indian Sectoral Fund partner IL&FS Trust company, will invest Rs 16 crore for LGSI to augment its infrastructure. From this, the Fund will acquire an initial equity stake in LGSI and representation on the LGSI Board of Directors.

LGSI president and managing director Lalit Ahuja said, “LGSI is extremely excited at the conclusion of this investment by the AIG Indian Sectoral Equity Fund. We are confident this investment in LGSI will bring significant value addition to the company, specifically in terms of sharing best practices and enhancing the company’s branding.”

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