ITC sold its entire shareholding of 26 per cent, consisting of 4,65,09,200 equity shares in its joint venture Espirit Hotels Private Limited, the company announced through an exchange filing.
The company also added that it had sold all of its shares worth Rs 10 and Espirit Hotels has ceased to be the company's joint venture company.
ITC Hotels in June 2011 had bought 26 per cent stake worth Rs 45 crore in a joint venture with Espirit Hotels to build a luxury hotel in Hyderabad.
Hyundai and ITC's Agri Business Division had entered into a partnership last month in order to strengthen its brand presence in rural markets.
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ITC shares
The shares of ITC Limited on Thursday closed at Rs 387.50, up by 0.28 per cent.
