To develop rental assets portfolio under DLF Cyber City Developers
DLF and GIC, Singapore's sovereign wealth fund, have entered into a strategic partnership to develop a rental assets portfolio, under the consolidated portfolio of DLF Cyber City Developers, a subsidiary of DLF. The partnership enables sustainable, long term growth of DCCDL's rental business and creates an optimum structure for its rental business to improve efficiency with long term capital for growth of the portfolio.The transaction envisages an enterprise value of Rs 35,617 crore (approx. USD 5.6 billion) for DCCDL. Post a series of steps as contemplated in the transaction, DLF shall hold 66.66% equity stake (up from 60% diluted equity earlier) and an affiliate of GIC shall hold 33.34% equity stake in DCCDL.
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