DLF to sell 74% equity stake in its Insurance JV

25 Jul 2013 Evaluate

DLF has signed a definitive agreements to sell its 74% equity stake in its the Life Insurance Joint Venture - DLF Pramerica Life Insurance Company, a joint venture with Prudential International Insurance holdings (PIIHL), a subsidiary of Prudential Financial, Inc USA 'PFI' to Dewan Housing Finance Corporation (DEIFL) & its group entities. These agreements are subject to regulatory approvals. The transaction is in line with the DLF's ongoing strategy to divest non-core assets.

DLF, founded by billionaire Kushal Pal Singh, has a land bank of 10,255 acres, the biggest in the real estate sector. At its peak, its debt pile stood at Rs 23,000 crore.

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408.80 -5.30 (-1.28%)
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Company Name CMP
Dilip Buildcon 237.30
NBCC (India) 41.20
JMC Projects (India) 124.90
Prestige EstatesProj 490.20
DLF 408.80
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