China - based Country Garden ventures wants to buy a controlling stake in a suburban - based residential project run by India 's Wadhwa Group . Country ventures , China 's third largest builder by revenue , is looking to purchase the stake in the 450-acre development at Panvel in ##dian Mumbai . The companies have reportedly signed a memorandum of understanding and balance sheet for the transaction . If the deal goes through , it will be Country Garden 's first investment in India .
China-based Country Garden Holdings wants to buy a controlling stake in a suburban-Mumbai residential project run by India's Wadhwa Group. Country Garden, China's third largest builder by sales, is looking to purchase the stake in the 450-acre development at Panvel in Navi Mumbai. The companies have reportedly signed a memorandum of understanding and term sheet for the transaction. If the deal goes through, it will be Country Garden's first investment in India.