Goldman Sachs has shortlisted names of the final bidders for the sale of Four Seasons property that it has been developing in Bangalore. According to sources, Goldman Sachs might be very close to finalising the deal and that it might have to book losses, reports CNBC-TV18's Vineetha Athrey.
Goldman Sachs has already invested around Rs 700 crore for developing the Four Seasons property in Bangalore. This investment came in as part of the global fund White Hall which has now been closed.
According to sources, Goldman Sachs has shortlisted RMZ Developers, Shriram Properties and PVP Ventures of which RMZ is a front runner. All these bids are in the region of around Rs 450 crore and this concludes Goldman will have to book losses for this one.
Also, sources say this project would need another Rs 350 crore of additional funding to get completed over an 18 months period. Goldman is looking to finalise the winner for this bid over the next two to three weeks time.
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