DLF Offloads 49% In 8 Housing Projects

New Delhi: Real estate company DLF Ltd on Nov 19, said it has sold 49 per cent stake in eight residential project SPVs to private equity investors for a total consideration of Rs 1,675 crore. A Merrill Lynch & Co entity has acquired 49 per cent equity in seven residential projects in Chennai, Bangalore, Kochi and Indore, for Rs 1,481 crore. The company headed by billionaire Mr K.P. Singh - has also disinvested 49 per cent stake at a premium, in another middle-income housing project in Panchkula, Haryana, to Brahma Investments for Rs 194 crore.