New York-based Vornado Realty Trust, a leading operator of office buildings in the US, and Uppal Group, an Indian real estate player is forming a joint venture to fund a 263 acre-tax-free enclave in Gurgaon. The enclave will require a massive investment of Rs. 5000 crores and house information technology and other exclusive service businesses. Vornado will acquire a 50% stake in the project. The project will be paid for through a number of debt, internal accruals, and equity from both companies.
Read the article in Indianrealtynews.com.
Dealcurry: Capital Markets, Investment Banking, Private Equity 