Blackstone Buys DLF Joint-Venture

Indian real estate firm DLF Ltd. said that it and its joint venture partner sold their entire holding in a firm that owns a special economic zone for 8.1 billion rupees ($152.6 million) to an affiliate of Blackstone, Reuters wrote Wednesday.

(Reuters) – DLF Ltd, India’s top listed real estate firm, said on Wednesday the company and its joint venture partner sold their entire holding in a firm that owns a special economic zone for 8.1 billion rupees to an affiliate of Blackstone.

DLF owned 67 percent of the firm, while its joint-venture partner Hubtown had the remainder prior to the sale, DLF said in a statement.