India's ICICI Venture sells JV stake to Tishman

MUMBAI, July 4 (Reuters) - Indian private equity firm ICICI Venture, a unit of ICICI Bank (ICBK.BO: Quote, Profile, Research) (IBN.N: Quote, Profile, Research), said on Friday it had reached a deal with Tishman Speyer to sell its stake in their Indian real estate joint venture to the U.S. firm.

ICICI Venture said it will sell its 50 percent stake in TSI Ventures India Pvt Ltd, a real estate joint venture company, to Tishman Speyer, which will now become the sole owner.

Tishman Speyer and ICICI Venture would remain equity partners in TSI's three current projects, the Indian firm said in a statement that did not give financial details of the transaction.

"Both companies remain open to investing together in Indian real estate in the future," it said. (Reporting by Rina Chandran; Editing by John Mair)