INDIA BUSINESS WORLD - DECEMBER 1^st - DECEMBER 15^th - 2007

QUANTUM PICKS 5.8% IN GUJARAT AMBUJA EXPORTS

George Soros investment arm Quantum Fund picked up 5.8% stake in the Ahmedabad-based Gujarat Ambuja Exports (GAEL), an agro-processing firm. The fund is expected to have invested around Rs 56 crore to pick shares through market operations. Among other institutional investors, Reliance Mutual Fund is holding 3.9% stake in the company. "Analysts from Quantum had come to meet us over a year ago and did an extensive study of our businesses. They must have found good value in our company which explains the reason for such a big exposure to our company," said GAEL chairman and MD Vijay Gupta in a statement.