Dlf cyber city developers ltd - Latest News Update, Information, Photos & Videos on Dlf cyber city developers ltd at Lokmat Times

Real estate major DLF Group's rental arm DLF Cyber City Developers Ltd (DCCDL) has acquired 51.8 per cent stake in Fairleaf Real Estate Pvt Ltd for Rs 780 crore.In December last year, DCCDL had entered into a securities purchase agreement with funds managed by Hines, a global real estate investment, development and management firm, to acquire stake in Fairleaf.Hines owned and operated One Horizon Centre in Gurugram, an iconic asset forming part of the larger mixed use development located in one of the most sought-after location at DLF 5 in Gurugram with a leasable area of 8.13 lakh square feet, offering high-end grade-A office spaces along with complimentary retail space."We would now like to inform that DCCDL has completed the acquisition of this 51.8 per cent stake at a consideration of Rs 779.4 crore and consequently Fairleaf has become a wholly-owned subsidiary of DCCDL with effect from today that is 18th February 2021," DLF said in regulatory filings at stock exchanges late on Thursday.Hines had nearly 52 per cent stake in One Horizon Centre while the rest was with DCCDL.DCCDL -- a joint venture firm of DLF and Singapore's sovereign wealth fund GIC -- exercised the first right of refusal to acquire Hines' stake. The acquisition is subject to customary conditions and expected to be complete by the next quarter.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Dlf Cyber City Developers LtdFOLLOW

Dlf cyber city developers ltd, Latest News

National :Businessman dies in mysterious circumstances in Gurugram

Gurugram, June 23 A 25-year-old businessman from Hisar's Hansi died in mysterious circumstances in Gurugram. The victim was ... ...

Business :DLF's rental arm acquires 51.8 pc stake in Fairleaf for Rs 780 cr

Real estate major DLF Group's rental arm DLF Cyber City Developers Ltd (DCCDL) has acquired 51.8 per cent stake in Fairleaf Real Estate Pvt Ltd for Rs 780 crore. ...