ICICI Venture Funds Management Co., a unit of India's ICICI Bank Ltd., paid $800 million to buy a stake of between 10 percent and 15 percent in New Delhi-based Jaypee Infratech, Business Standard reported, without saying where it obtained the information.
The purchase is India's biggest private equity deal, the report said. Jaypee Infratech, a unit of the Jaypee Group, is constructing a 165-kilometer (103-mile) expressway connecting the northern Indian cities of Noida and Agra. (Bloomberg)