Comments
Unitech Corporate Parks (UCP), a Unitech group firm listed in London, is looking to sell its IT SEZ in Gurgaon. The company is understood to have shortlisted a few bidders including General Insurance Company, Blackstone, Dishman Pharma, Mapletree and Canadian Pension Fund.
The Special Economic Zone comprises about 3.5 million sq ft of office space. UCP holds a 60 per cent stake while Unitech owns the balance shares.
The sale is expected to generate about Rs 1,100-1,200 crore, which Unitech will use to retire its debts and fund its expansion plans. UCP raised about £360 million by issuing and placing its ordinary shares on the Alternative Investment Market of the London Stock Exchange in December 2006.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.