10% STAKE IN IFCI AKE IN IFCI

International Finance Corp, a unit of the World Bank, may consider buying as much as 10% of IFCI Ltd, India’s oldest project financier which is seeking a new investor. IFCI, the third best performing stock on India’s BSE500 Index 2007,plans to sell a 26% stake to a strategic investor to improve its financial performance and exit non performing assets or those that needed to be liquidated. The lender is also in talks with multilateral institutions.