• Corporate
• Markets
• Info-Tech
• Marketing
• Money & Banking
• Agri-Biz & Commodities
• Industry & Economy
• Logistics
• Government
• Opinion
• Variety
• Columns
• States
• Web Extras
• Index

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

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

• Rates

• Ports

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

Subscription

• Business Line

Group Sites

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

Advertisement

MUMBAI: Indiabulls Real Estate Ltd (IBREL) has informed the BSE that the board at its meeting held on February 28 has approved the proposed investment and/or purchase of up to 100% of the ordinary shares in Dev Property Development Plc (DPD), a registere d company listed on the London Stock Exchange's AIM, by issuance of new ordinary shares of the company represented by Global Depository Receipts (GDRs) listed on the Luxembourg Stock Exchange's Euro MTF market equating to an offer that values the existin g ordinary share capital of DPD at approximately £138.0 million and each DPD share at 100.00p based on (a) the Indian Closing Price of Rs 654.40 per IBREL Share on February 27, 2008 and (b) a currency exchange rate of GBP1.00 to Rs 79.12140 (being the ex change rate at 15:30 hrs. in Mumbai on February 27, 2008).

Prev: Matrix Lab appoints Jagdish Dore as CEO
Next: Aban Offshore arm gets contract from Myanmar co

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