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Provogue sells further stake in realty unit

Apparel retailer Provogue (India) Ltd said on Monday UK's LTG International Ltd will invest 569.7 million rupees to pick up 3.36 percent stake in a unit of real estate arm Prozone Enterprises Pvt Ltd. LTG is founded by Lewis Trust Group of UK and Prozone is a joint venture between Provogue and Liberty International Plc, according to a company statement. In April, Provogue sold 27 percent stake in the unit for 4.57 billion rupees to Triangle India Real Estate Fund, founded by Old Mutual Investment and ICS Realty. (Reuters) […]