Realty major DLF’s rental arm DCCDL has entered into an agreement to acquire the stake of US-based Hines in a premium commercial project in Gurugram for Rs 780 crore, the company said in a regulatory filing.
DLF Cyber City Developers Ltd (DCCDL), the joint venture firm of DLF and Singapore’s sovereign wealth fund GIC, has entered into a securities purchase agreement with funds managed by Hines for acquisition of their stake in Fairleaf Real Estate, which owns and operates ‘One Horizon Center’.
“The purchase consideration for this acquisition is approximately Rs 780 crore, subject to customary closing adjustments,” the company said in …
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