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DCCDL completes acquisition of 51.8 percent stake in Fairleaf Real Estate

Friday, 19 Feb 2021
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DLF Cyber City Developers (DCCDL), a subsidiary of DLF, has completed the acquisition of 51.8 percent stake in Fairleaf Real Estate for Rs 779.40 crore.

Consequent to the transaction, Fairleaf Real Estate has become a wholly-owned subsidiary of DCCDL.

The acquisition was completed at a consideration of Rs 779.40 crore and consequently, Fairleaf Real Estate has become a wholly-owned subsidiary of DCCDL with effect from 18 February 2021.

In December 2020, DCCDL had executed the Securities Purchase Agreement for the acquisition of the majority stake in Fairleaf Real Estate.

This was subject to customary closing adjustments in relation to One Horizon Centre, an asset forming part of the larger mixed-use development located in DLF-5, Gurugram, Haryana, with the leasable area of around 8.13 lakh sq ft offering high-end Grade-A office spaces along with complimentary retail space.

 
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