LN Mittal doubles his stake in Ophir Energy - Business Standard

Steel magnet Lakshmi N Mittal has paid over $110 million to double his stake in Africa-focused Ophir Energy Plc to 21.2 per cent even as he exited the oil and gas business in the Central Asian nation Kazakhstan.

Forklift Oil Tank manufacturing facility.

"We would like to confirm that we recently doubled our investment in this (Ophir Energy) company," said Sudhir Maheshwari, Managing Director of Mittal Investment Sarl, the holding company of Mittal family interest. Industry sources said Mittal Investment had in May 2008 agreed to buy 47 million shares in Ophir Energy at 250 pence a share in two tranches.

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