| India's largest real estate firm DLF has said that it has received Rs 1,992 crore from Singapore's sovereign wealth fund GIC after the completion of its deal to sell 50 per cent stake in two of its new projects in Delhi. DLF had earlier announced that it has signed an agreement with GIC to enter into a joint venture to invest in two upcoming projects located in central Delhi.
The deal was later approved by the Competition Commission of India. "DLF Ltd has now informed BSE that subsequent to receipt of CCI approval and having met other preclosing conditions, the funding for the above said transaction has been concluded on December 23, 2015 with the receipt of Rs 1,992 crore from GIC, Singapore's sovereign wealth fund," the company said in a filing to the Bombay Stock Exchange. ..............................................Full Article: Source
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