Emaar Properties confirmed that it is in talks with a number of major companies in India, including the Adani Group, for the possible sale of a stake in Emaar India.
Emaar Properties stated in a disclosure to the Dubai Financial Market, today, Thursday, that the evaluation processes and other conditions for the potential deal have not yet been agreed upon.
Emaar Properties’ comment came after media reports related to the talks, that the Indian “Adani Group” is in advanced stages of negotiations with “Emaar Properties”, to acquire a majority stake in its Indian unit, with a value ranging between 40 and 50 billion Indian rupees (equivalent to… approximately $578 million).
According to the Indian financial newspaper “Mint”, according to informed sources, the stake ranges between 70% and 100% of the ownership of “Emaar India”, while the acquisition is expected to take place through the Adani Real Estate Company “Adani Realty”.
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