GSK invites bids for 60 acre land parcel in Thane: Sources

In what may be the largest land deal in terms of value in the last 3 years, sources tell CNBC-TV18 that GlaxoSmithKline (GSK) is looking to sell a 60 acre land parcel in Thane. The land parcel is valued between Rs 1,400 - Rs 1,800 crore. GSK is seeking to sell either 40 acres or the entire 60 acres parcel to developers. GSK had tried to sell the land parcel in 2014. But the deal fell through because of legal hurdles. Piramal Realty and K Raheja were frontrunners to buy the plot in 2014.Watch video for more.