DLF to sell 74% equity stake in its Insurance JV

25 Jul 2013

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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150.85 6.75 (4.68%) May 29, 18:01
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