Citi arm puts $160 mln in Indian realty firm-media
Citigroup Property Investors, a unit of Citigroup, has put $160 million into four projects of Indian real estate developer BPTP.
The Hindustan Times paper, also citing an unnamed BPTP official, said the Citi unit would hold 40% in a special purpose vehicle for the four developments, with New Delhi-based BPTP holding the remainder.
Citi Property Investors last year bought nearly 6% in BPTP for about 3.2 billion rupees ($80 million), the papers said.
Citi Property Investors last year said it was investing around $400 million in India, and that it had tied up with seven developers for various projects in the country. (Reuters)
ADVERTISEMENT
E-scooters More Popular Than Bikes at eMag
Parliament Negates Mandatory Membership in MOK
Civita Group Inaugurates HUF 2.5 bln Pasta Plant
Service Restarted on Full Length of Metro Line M3
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
