GIC seeks CCI nod for Rs 9000 crore deal with DLF promoters

GIC seeks CCI nod for Rs 9000 crore deal with DLF promoters
04/10/2017 , by , in News/Views

Singapore’s sovereign wealth fund GIC has approached Competition Commission of India (CCI) seeking approval for its deal to acquire stake in DLF rental arm for Rs 8,900 crore and form joint venture with the realty firm.

GIC had in late August agreed to buy 33.34 per cent stake in DLF’s rental arm DLF Cyber City Developers Ltd (DCCDL) for Rs 8,900 crore. GIC will buy shares in DCCDL from DLF promoters. The deal is expected to be approved by next month.

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