The transaction implies an enterprise value of Rs35,617 crore for DLF Cyber City, translating into an equity value of around Rs30,200 crore. The transaction implies an enterprise value of Rs35,617 crore for DLF Cyber City, translating into an equity value of around Rs30,200 crore. After the completion of certain procedures, DLF will hold 66.66% equity shares and Reco Diamond the remaining 33.34% in DLF Cyber City. Ltd to sell a 40% stake in DLF Cyber City in a ‘game-changer’ deal that would help the developer significantly reduce its debt. With the transaction, DLF promoters will convert its compulsorily convertible preference shares (CCPS) in DLF Cyber City into equity shares and sell them to the GIC affiliate.

Source: Mint August 25, 2017 15:56 UTC