DLF buys nearly 50 pc stake in DLF Urban from GIC for Rs 497 cr

NEW DELHI: Real estate major DLF has acquired nearly 50 per cent stake in its arm DLF Urban Pvt Ltd from Singapore-based GIC for Rs 497 crore.

With this deal, DLF will have 100 per cent stake in DLF Urban Pvt Ltd, which has already completed a luxury housing project in the national capital.

DLF’s wholly-owned subsidiary DLF Home Developers Ltd (DHDL) has “acquired 49.997 per cent of the total paid-up equity share capital and compulsorily convertible debentures held by Reco Greens Pte Ltd in DLF Urban Pvt Ltd, a subsidiary of DHDL.”

Source: PTI News

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