DLF sells Pune SEZDecember 28th, 2011 - 10:54 pm ICT by IANS
New Delhi, Dec 28 (IANS) Real estate major DLF and its joint venture partner Hubtown Wednesday said they had sold their 100 percent stake in DLF Ackruti Info Parks, which owns a special economic zone (SEZ) in Pune, for Rs.810 crore.
“The transaction is in line with the DLF’s continuing objective of divesting its non-strategic assets,” a DLF spokesperson said.
The company did not divulge the buyer firm’s name but said that the entity was controlled by a real estate fund affiliated with private equity (PE) major Blackstone.
DLF was the major stakeholder in the SEZ with 67 percent equity shares, while Hubtown held 33 percent.
DLF Ackruti owned a notified ITes (information technology enabled services) SEZ (special economic zone) in Pune, Maharashtra.
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Tags: 100 percent, assets, blackstone, information technology, joint venture, maharashtra, New Delhi, objective, percent stake, private equity, pune, real estate fund, special economic zone, spokesperson, stakeholder, venture partner