Citigroup, Merrill Lynch and DE Shaw may pump-in Rs 20 billion (USD
500 million) in the DLF Assets`(DAL) real estate investment trust (REIT),
part of the DLF group. The deal is likely to be wrapped up by early
next week.
DAL is engaged in buying and managing office space. Currently, DAL
is owned by DLF promoters; however the largest real estate developer
in the country holds no equity stake in this firm. As per the plan,
DLF will also invest USD 750 million or Rs 30 billion in the REIT. The
company had earlier planned to list the REIT, but now it has opted to
go for a private
