Reco Greens, an affiliated company of Singapore’s sovereign wealth firm GIC, plans to sell its 49.9 percent stake in a joint venture company DLF Urban Private, a subsidiary of India-based real estate developer subsidiary of DLF Home Developers, according to media outlets.
DLF Home Developers Ltd (DHDL) is a wholly owned subsidiary of DLF, involved in residential real estate development.
The price of the sale is Rs 496.73 crore ($58 million).
After this acquisition, the holding of DLF Home Developers in share capital of DLF Urban has increased from 50.003 percent to 100 percent.
