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Indian firm to buy out Limitless stake in JV
Date: 27-07-2010
Indian real estate firm DLF is to buy out the stake held by Limitless, a property unit of Dubai World, in an equal joint venture in India for around $43m, the Economic Times has reported, citing a person with direct knowledge of the deal. India's DLF and Limitless won the contract to build the Bidadi development on the outskirts of Bangalore in October 2007. DLF will buy the 50% held by Limitless Group for a price less than the net worth of the shares, due to change in forex rates during the past three years, the paper said.