Signals, Powered By EquityPandit
DLF, the realty major has announced restructuring of its joint venture with global investment firm Blackstone-managed Ridegewood Holdings which had invested Rs 1,481 crore in seven housing projects in 2007.
DLF, in 2007, diluted 49 percent stake in seven residential projects located in Chennai, Bengaluru, Kochi and Indore to a Merrill Lynch & Co entity Ridgewood Holdings, now managed by Blackstone.
DLF and Ridgewood Holdings, as a part of the restructuring, have divided five undeveloped land parcels of about 500 acres in Bengaluru and Chennai. Two projects in Kochi and Indore have already been developed by the partners.
DLF has said in a BSE filing that the company and Ridgewood Holdings have decided to “realign the current shareholding arrangement in the JV companies in order to maintain continued focus of future development of various projects.”
