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News Roundup: Lodha, Vornado make Rs 2,900Cr bid for DLF plot

18 May, 2012

Lodha, Vornado Make Rs 2,900Cr Bid For DLF Plot – India’s biggest real estate firm DLF, which is looking to offload non-core assets to pare debt, has received offers of Rs 2,900 crore for its 17-acre plot in Mumbai’s Lower Parel area. Mumbai-based builder Lodha Group and American private equity fund Vornado Realty Trust had together made an offer to DLF. A builder from the Middle-East had separately offered a similar price for the plot. (Economic Times)

DLF Close To Sale Of Aman Resorts – Realty developer DLF is planning to conclude and complete its sale of Aman Resorts probably by July. DLF is in talks with two parties and is likely to sign an exclusive MoU with one of these parties by the end of this month. That will be followed by a final due diligence stage process. DLF is hoping to finally sell Aman Resorts by the end of July at $350-400 million. (Moneycontrol)

Kouton To Raise $200M – Debt-ridden Koutons Retail India Ltd today said it plans to raise up to $200 million (around Rs Rs 1,090 crore) by issuing preferential shares to promoters and others. The company is looking at a  preferential issue of equity shares to promoters and others for upto $200 million. It said the issue could be through various routes such as preferential allotment, private placement, QIP, ADR, GDR, FCCB or by any other means. (Economic Times)

Bangalore-Mysore Expressway Nears New Round Of PE Infusion – After being in the works for nearly an year, the second round of private equity fund raise by Nandi Infrastructure Corridor Enterprise Limited (NICE) which is executing the much delayed Rs 4,000 crore Bangalore-Mysore expressway, is close to being finalised. Global private equity majors Goldman Sachs, 3i Group, Standard Chartered are among the few funds which are understood to be in discussion for this round of funding which is expected to be in the range of Rs 300-400 crore. (Business Standard)

HDIL To Sell Bangalore Land To Godrej – Promoters of city-based property developer Housing Development and Infrastructure Ltd (HDIL) are close to selling their 14-acre land in Bangalore to Godrej Properties, the realty arm of the Godrej group, for around Rs 100 crore. The land parcel is located off Sarjapur Road in Bangalore. (Business Standard)

Nippon Life Gets Nod For Reliance Capital Arm Stake – Japanese insurance and mutual fund firm Nippon Life’s proposal to acquire 26 per cent stake in Anil Ambani-owned Reliance Capital Asset Management Ltd (RCAM) has got a green signal from the Competition Commission. In January this year, Nippon Life Insurance had picked up stake in RCAM, India’s second largest mutual fund in assets, for close to Rs 1,450 crore. (Business Line)


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News Roundup: Lodha, Vornado make Rs 2,900Cr bid for DLF plot

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