Goldman Sachs to invest $150 million in Piramal Realty

REUTERS - Investment bank Goldman Sachs will invest $150 million for a minority stake in Piramal Realty, the Mumbai-based real-estate developer said on Monday.

It did not disclose the size of the deal.

Piramal Realty will use the money to expand its real-estate portfolio and buy prime properties in and around Mumbai, it said in a statement.

In July, a unit of private-equity firm Warburg Pincus LLC invested $284 million for a minority stake in Piramal Realty.

(Reporting by Karen Rebelo in Mumbai; Editing by Gopakumar Warrier)