DLF promoters to sell stake in rental arm for â¹11,900 crore
DLF's audit committee approved a transaction by which promoters will sell their 33.34% stake in rental arm DLF Cyber City Developers to Reco Diamond, an affiliate of Singapore-based GIC Real Estate, for â¹11,900 crore. In March, DLF said its promoter firms were in exclusive talks with GIC to sell 40% DLF Cyber City stake to help the developer reduce debt.