Dubai's Emaar Properties plans to split with its Indian joint venture partner through a demerger process, the emirate's biggest property developer said on Wednesday.
The move ends a decade-long relationship between Emaar a
British mobile phone giant Vodafone is taking full control of its Indian joint venture by buying out its local partner Essar Group, a statement said, ending a troubled relationship.
Vodafone, which has sought to make India a crown jewel in
Emaar Properties will sell a 10-15-per cent stake of its India MFG joint venture in an $800-million initial public offering, a local newspaper reported on Sunday.
Emaar, the builder of the world's tallest tower, will appoint bankers to
Acacia Real Estate Limited said it has acquired a 26 per cent stake in a retail development mall in Delhi through a joint venture with Anant Raj Group, a publicly-listed company with a market capitalization of $1.2 billion.