Hubtown along with its joint venture partner DLF have sold 100% of their respective shareholding in DLF Ackruti Info Parks (Pune), for an aggregate consideration of Rs 810 crore to an entity controlled by real estate fund affiliated with The Blackstone Group BRE Mauritius Investments II, after all necessary approvals.
Prior to the sale of their respective shareholding, Hubtown and DLF held 33% and 67% equity shares in DLF Ackruti, respectively.
Hubtown formerly known as Ackruti City specializes in slum rehabilitation authority schemes and by May 2011, the group had executed various projects, aggregating over 13.80 million square feet.
