Independent News & Media has sold its remaining shares in Indian publisher Jagran Prakashan (JPL) for €32m.
The shares sold by INM represent 5.7% of the Indian company, and it said the proceeds would be used to reduce debt.
Independent originally bought a 26% stake for €28.5m in 2005, but has raised around €96m through the sale of shares in the past 14 months.
INM said that - at the request of the Gupta family, the founder and majority shareholder in JPL - its chief executive Gavin O'Reilly would continue as an independent non-executive director of JPL.
