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Blackstone throwing in the towel at Gokaldas

Posted by fairval on December 9, 2014

Earlier this month, Blackstone again sold some of its holding at Gokaldas Exports with a big haircut. According to a media article: Private equity giant Blackstone has sold 4.5 per cent stake in Gokaldas Exports for Rs 10.48 crore ($1.7 million), having lost around 75 per cent or three fourth of the original investment in the process. It had sold a chunk a few months ago as well, again at a big loss.

This investment hasn’t worked for Blackstone from day one. 9 out of 10 analysts in the market would have said it won’t work. This blog said the same in a post in Aug’2007 (wow! its an old blog now) —  Blackstone gambles on Gokaldas

Sometimes the majority is right. Blackstone thought it knew better, but not this time.


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