India: CCI clears US$1.4b DLF deal

By CPI | November 5, 2017

The Competition Commission of India announced on Saturday, November 4, that it has approved Singapore’s sovereign wealth fund GIC’s bid to acquire a stake in a firm owned by DLF, the country’s biggest real estate developer, for 89 billion rupees (US$1.4 billion).

A sale was talked about in 2015 when DLF announced that three of the shareholders in DLF Cyber City Developers would look to sell their stake to reduce conflicts of interest.