DLF & Hubtown sold IT SEZ to Blackstone for Rs 810 crore.

DLFNew Delhi: India’s top listed developer DLF, along with its partner Hubtown in a joint venture, has sold its IT SEZ in Pune to US private equity giant Blackstone for Rs 810 crore, the sources said.

DLF said in a statement that “The Company with its joint venture partner Hubtown have sold 100 per cent of their shareholding in DLF Ackruti Info Parks (Pune) Ltd for Rs 810 crore.”

A DLF spokesperson said that “The above transaction is in line with the DLF’s continuing aim of divesting its non-strategic assets.”

Before the announcement, shares in DLF closed 0.7 percent high in a Mumbai market that fell 0.92 percent.

DLF is the country’s major realty firm, is selling its non-core assets like hotels and plots in the preceding few years to cut debt, which stood at Rs 22,519 crore as on Sept 30, 2011.

According to the reports, the company has thus far raised Rs 3,480 crore from sale of non-core assets and is planning to rise concerning Rs 7,000 crore in the next 2-3 years.

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