Reports that DLF Ltd, Indias largest real estate firm by market value, could acquire DLF Assets Ltd, a company owned by the Singh family that promoted DLF, have not gone down well with analysts.
DLF Assets buys and holds completed commercial real estate projects of DLF. It remains largely owned by the Singh family. Since its founding a little over two years ago, it has received a funding of $1.15 billion (Rs5,784 crore) in total from Symphony Capital ($450 million), DE Shaw and Co. Lp. ($400 million) and Lehman Brothers ($200 million).
Symphony, however, is promoted by the Singhs, and in November last year, it acquired Lehmans stake in DLF Assets.
More : livemint.com
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