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Reports: Itochu sells stake in Indo Rama Synthetics

9:35 AM MST | January 28, 2014 | Francinia Protti-Alvarez

Itochu (Osaka) has divested its 3.5% stake in polyester manufacturer Indo Rama Synthetics (Gurgaon, India), a subsidiary of Indorama (Jakarta), according to various media reports. The stake was acquired by the Lohia family, Indorama's largest shareholder, the reports say. The transaction is valued at about 80 million rupees ($1.27 million) and was carried out via bulk deals on the Bombay Stock Exchange, the reports...

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