By IANS
Mumbai : India’s leading real estate company Indiabulls Real Estate Ltd (IREL) said it has acquired 100 percent shares of Catherine Builders and Developers Pvt Ltd from the Kochi-based real estate major DLF Home Developers.
The acquisition was made through IREL’s subsidiary Indiabulls Infrastructure (IIL).
Catherine, which holds 50 percent shares of Kenneth Builders and Developers Pvt Ltd, a joint venture set up by DLF and India Bulls, had earlier won the auction by Delhi Development Authority (DDA) to develop a residential project on 35.8-acre area located at Tehkhand in South Delhi.
The remaining 50 percent of shareholding of Kenneth is owned by IIL’s wholly owned subsidiary Bridget Builders & Developers Pvt Ltd.
With this acquisition, IIL will now own 100 percent stake in Kenneth through its subsidiaries, IREL informed the Bombay Stock Exchange (BSE,) Thursday.