The Board of Directors of The State Investment Corporation Ltd. authorized a share repurchase program on August 13, 2013. Under the program, the company will repurchase 15% stake for a total of MUR 423 million from National Investment Trust Co. (MUSE:NITL).

The company will make payment in four equal installments spanning over a period of three years. The transaction is subject to shareholder approval of National Investment Trust and regulatory approval. The Board of National Investment is of the opinion that such a disinvestment is in the best interests of the shareholders of the company as this would allow National Investment to monetize its investments in such an unquoted asset and bolster its core fund management activities.