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DLF promoters sells stake in rental arm

Mon, Aug 28 2017, 11:39 AM

The promoters of real estate major DLF will see their stake in rental arm DLF Cyber City Developers to an affiliate of GIC Real Estate, Singapore, for a gross value of Rs11,900 crore. A substantial portion of the transaction proceeds will be invested in the company, a DLF press release on Sunday said. DLF Cyber City Developers is one of the largest and most profitable subsidiaries of DLF.