• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, May 12 LSE listed Trikona Trinity Capital, a fund created for investing in Indian real estate and infrastructure, said it has entered into a binding agreement to divest a part of its portfolio and co-invest in new projects with SachsenFonds Holdings GmbH (SF), a subsidiary of Sachsen LB, a leading German public sector bank, with a transaction value of £74.15 million.

The company said co-investment has taken place in development project 13, MIG Bandra, a Rs 161.95 crore (£20.04 million) investment by Trikona TC and SF to acquire 49 per cent of a redevelopment project located within the MIG Bandra area in partnership with Rustomjee Developers.

The transaction, outlined in a memorandum of understanding on April 1, follows a previous divestment of part of Trikona TC’s asset portfolio to SF in December for £32.11 million for a cash-on-cash return of 108 per cent.

More Stories on : Foreign Institutional Investors

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Corporate developments

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line