Primarc & RDB Group to buy business undertaking of DLF Techpark 1 for Rs 638 crore
NEW DELHI: RDB Primarc Techno Park LLP, an affiliate of Primarc & RDB Group, has executed definitive agreements to purchase the business undertaking of DLF Techpark 1 from DLF Infocity Developers (Kolkata), a wholly-owned subsidiary of DLF Cyber City Developers for an aggregate consideration of approximately Rs 638 crore on a slump sale basis.
JLL was the transaction advisor to both parties. Fox & Mandal were the legal advisors to RDB & Primarc.
The acquisition includes cost of the immovable property and the business undertakings as well. The business undertakings include rental, CAM, fit-out, property management, and other services being operated from DLF Techpark 1.
Situated in Kolkata, the IT park has a gross leasable area of approximately 1.49 million sq ft.
Shardul Amarchand Mangaldas & Co and PwC were the legal and financial advisors respectively to DLF.
