Citi PE Fund To Pay $307M For Ness

A private equity fund of Citigroup is planning to acquire IT company, Ness Technologies, The Wall Street Journal reports. The portfolio will pay a total of around $307 million for the acquisition.

As part of the transaction, an affiliate of Citi Venture Capital International (CVCI) will pay $7.75 per share in cash. CVCI, which handles $7 billion in equity investments and committed capital, is part of Citi Capital Advisors, adds Reuters.

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