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GIC’s proposal to take possession of 33% stake in DLF Cyber City Developers for Rs.8,900 crore has been approved by the Competition Commission of India (CCI).
According to the deal, GIC’s subsidiary Reco Diamond will be acquiring 33.34% stake in DLF Cyber City Developers Ltd (DCCDL).
In a BSE filing, DLF stated that the Competition Commission of India had issued a letter to GIC on November 3, which stated that it has given approval to the deal.
