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IL&FS and Logix Group calls off deal

Wednesday, 07 Nov 2012
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IL&FS Investment Managers and real estate developer Logix Group has called off the deal with investors get cautious about backing realty projects.

The proposed deal was estimated to be about Rs 600 crore, through which the Logix Group would sell four office buildings in Noida to IL&FS Investment. Earlier the company was planning to acquire the complete stake in the Logix Group project. However, talks collapsed when IL&FS urged the promoter to hold back 20 per cent stake. 

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