 "Prestige buys CapitaLand stakes for Rs 3.42 bn")
The Bengaluru-based Prestige Estates said on Monday it had bought out through a subsidiary investor CapitaLand’s stakes in its malls and residential projects for Rs 3.42 billion.
The Singapore-based CapitaLand had entered into agreement with the Prestige group in 2008 to invest in its malls.
The deal involves acquisition of CapitaLand’s 49 per cent stake each in Forum Centre City Mall in Mysuru, 50 per cent stake in Forum Fiza Mall in Mangaluru, 50 per cent stake in Forum Neighbourhood Mall and Oakwood serviced residences in Bengaluru, 25.4 per cent stake in Forum Sujana Mall in Hyderabad, 13
The Singapore-based CapitaLand had entered into agreement with the Prestige group in 2008 to invest in its malls.
The deal involves acquisition of CapitaLand’s 49 per cent stake each in Forum Centre City Mall in Mysuru, 50 per cent stake in Forum Fiza Mall in Mangaluru, 50 per cent stake in Forum Neighbourhood Mall and Oakwood serviced residences in Bengaluru, 25.4 per cent stake in Forum Sujana Mall in Hyderabad, 13
