HDIL group firm sells stake to D E Shaw for $250 mn

HDIL group firm sells stake to D E Shaw for $250 mn
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First Published: Wed, Feb 27 2008. 03 06 PM IST
Updated: Wed, Feb 27 2008. 03 06 PM IST
Mumbai: Real estate firm Housing Development & Infrastructure Ltd said on Wednesday a group firm had sold stake to a unit of private equity firm D E Shaw for $250 million (Rs9.94 billion).
The group firm, Mack Star Marketing Pvt Ltd, holds development rights for a 54,000-metre commercial complex being constructed near Mumbai’s international airport.
Last week, HDIL had transferred its development rights for this complex to Mack Star for Rs9 billion.
HDIL shares, which extended gains on the news, were trading at Rs861.10 rupees, up 3%in a strong Mumbai market.
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First Published: Wed, Feb 27 2008. 03 06 PM IST
More Topics: Hdil | Deshaw | Mack Star | Equities | India |