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DLF in talks to sell wind power business, assets
DLF , India's largest listed developer, is in talks to sell Rs 18 billion worth of non-core assets in the fiscal year that begins in April, the Economic Times reported on Thursday, as the company looks to pare debt.
DLF, India's largest listed developer, is in talks to sell Rs 18 billion worth of non-core assets in the fiscal year that begins in April, the Economic Times reported on Thursday, as the company looks to pare debt.
DLF is close to finalise a joint venture agreement with an unnamed Japanese company for the Indian developer's convention centre project in New Delhi in a deal worth Rs 8 billion, an unnamed senior DLF executive was quoted as saying.
The executive also said DLF had started negotiations with investors to raise Rs 10 billion through the sale of its wind power business.
A DLF spokesman declined to comment on the report when contacted by Reuters.
DLF had a net debt of Rs 225.19 billion at the end of September, and the company has sought to raise as much as USD 650 million by selling non-core assets to pare its debt pile.
