Equity International sells stake in Mexico's Homex

MEXICO CITY, April 25 (Reuters) - Mexico's top homebuilder Homex said on Friday that U.S. private equity firm Equity International sold around 11 million shares in a private placement, liquidating its investment in the Mexican company.

In 2002, Chicago-based Equity International was one of the main investors in Homex (HOMEX.MX: Quote, Profile, Research, Stock Buzz)(HXM.N: Quote, Profile, Research, Stock Buzz) and helped the company list in New York.

"Equity International has decided that now is the best time to make its final sale of its stake in Homex," the homebuilder said in a statement.

Equity International's Chief Executive Gary Garrabrant resigned from Homex's board following the sale.

Equity International, which invests in real estate-related companies outside the United States, sold 5.1 percent of Homex stock to Homex's founding family in February.

Homex, which is enjoying strong growth as the Mexican government tries to end a shortage of millions of houses, said in March its shareholders approved $250 million for share repurchases. (Reporting by Adriana Barrera; editing by Carol Bishopric)