DLF Pro­mot­ers Look to Sell 40% in Rental Arm for Up to .₹ 14k cr

The Economic Times - - Companies -

New Delhi: In­dia’s largest realty firm DLF has ini­ti­ated the process to sell pro­mot­ers’ 40% stake in its rental arm, a deal es­ti­mated at .₹ 12,000-14,000 crore.

DLF an­nounced in Oc­to­ber that its pro­mot­ers will sell their stake in the DLF Cy­ber City De­vel­op­ers (DCCDL), which holds the bulk of of­fice and re­tail com­plexes. The realty firm would con­tinue to own re­main­ing 60% in DCCDL.

Ac­cord­ing to sources, DLF's bankers have cir­cu­lated the in­for­ma­tion mem­o­ran­dum to 18-20 global in­sti­tu­tional in­vestors that are keen to pur­chase this stake.

Black­stone, Sin­ga­pore’s sov­er­eign wealth fund GIC, Canada Pen­sion Plan In­vest­ment Board, Brooke­field, Abu Dhabi In­vest­ment Au­thor­ity and Qatar In­vest­ment Au­thor­ity are among the prospec­tive buy­ers, they added. — PTI

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