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DLF to decide on arm's stake sale to GIC tomorrow

DLF would approach shareholders for a go-ahead

Karan Choudhury 


After months of negotiation, India’s largest firm, DLF, is likely to announce its 40 per cent of Cyber City Developers (DCCDL), for Rs 13,000 crore, to an affiliate of Singapore’s in its next board meeting on August 25.

The would bring some relief to DLF, which reported a decline of 58 per cent in its consolidated net at Rs 109.01 crore for the quarter ended June.

According to sources in the company, after the deal gets the final nod from the board, would seek approval from the CCI, and then would approach for a go-ahead.

First Published: Thu, August 24 2017. 02:07 IST