DLF’s promoter stake sale at final stage
Realty major DLF on Friday said it has entered the final phase of the process to sell promoters' 40 per cent stake in its rental arm, a deal estimated at around Rs. 12,000 crore. The country's largest realty firm said it is progressing towards an advanced stage of discussions with third party institutional investors on the terms for the shareholders' agreement. DLF has shortlisted few potential investors to sell promoters' stake in its rental arm. "The company has now entered the final phase of the process, whereby the persons authorized by the Audit Committee are progressing to advanced stage of discussions with third party institutional investors on the terms for the shareholders' agreement and the purchase of the CCPS from the CCPS Holders," DLF said.
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