DLF’s rental arm stake sale by Sept, may fetch ₹12,000 cr

NEW DELHI: Realty major DLF’s promoters are likely to sell 40% stake in its rental arm by September, a deal estimated to fetch around ₹12,000 crore. According to

NEW DELHI: Realty major DLF’s promoters are likely to sell 40% stake in its rental arm by September, a deal estimated to fetch around ₹12,000 crore. According to sources, three global institutional investors — Blackstone, GIC and Abu Dhabi Investment Authority — have been shortlisted as buyers in DLF Cyber City Developers Ltd (DCCDL). The due-diligence process is on and the agreement is likely to be signed by September. DLF will reinvest a significant part of the amount realised from the sale into DLF. The realty major had announced last year that its promoters, which includes KP Singh and his family, will sell 40% stake in DCCDL.

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