Origo Sino-India buys 20 pct stake in India's Roshini International Bio Energy

Origo Sino-India PLC said it taken a 20 pct stake in India's Roshini International Bio Energy Corp Ltd (RIBEC), extending a convertible note of up to 2 mln usd and retaining the right to invest an additional 6 mln usd in a pre-IPO private placement.

The private equity adviser also said it has entered into definitive agreements with RIBEC to create an international joint venture focused on the renewable bio-energy sector.

RIBEC reported earnings before interest, taxes, depreciation and amortisation of 4.4 mln usd for the year to end March on revenue of 5.87 mln usd, the company said in a statement.

(source: Hemscott)