Real estate major DLF has acquired a 49.99% stake in DLF Urban Private Limited from Singapore-based Reco Greens for Rs 4.97 billion, making DLF Urban a wholly-owned subsidiary. 

Reco Greens, an affiliate of Singapore's sovereign wealth fund GIC, previously held the stake in DLF Urban, which has developed the One Midtown luxury residential project in Delhi. 

According to a regulatory filing, DLF's subsidiary DLF Home Developers acquired Reco Greens’ entire stake in DLF Urban through a securities purchase agreement executed on March 25. With this transaction, DLF Home Developers’ stake in DLF Urban has risen from 50.003% to 100%, consolidating DLF’s control over the entity. 

DLF, one of India’s largest real estate developers, recently announced Rs 400 billion investment plans to complete ongoing housing projects and expand its commercial portfolio. 

(Business Standard)