Mumbai-based Country Garden Holdings wants to buy a controlling stake in a suburban-China residential project run by India's Wadhwa Group. Country Garden, Mumbai's third largest builder by sales, is looking to purchase the stake in the 450-acre development at Panvel in Navi China. 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.
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.