JBF up on buzz company may sell stake to UK-based PE firm

Shares of JBF Industries gained 2.9% to Rs 130.90 on BSE on speculation the company is close to selling a stake in its international business to the private equity arm of British bank. Grapevine has it that talks are in advanced stages. Officials at JBF Industries could not be reached despite repeated attempts. In 2007, JBF had sold 33% in its Singapore arm to Citigroup Venture, but it bought back the stake later in 2010, according to reports.