Singaporean sovereign wealth fund GIC is in exclusive talks to buy a 40 per cent stake in a commercial rental unit of India’s biggest listed property developer by sales, in what would be the latest big foreign bet on the country’s real estate market.
DLF, a 71-year-old company focused on developments in northern India, said GIC was now the only bidder in contention for the acquisition of a minority stake in DLF Cyber City Developers. The unit, which will remain 60 per cent owned by DLF, earns rental income from office and shopping developments chiefly
source http://www.omnipopmag.com/2017/03/02/singapores-gic-targets-stake-in-dlfs-rental-unit/
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