Tuesday, April 1, 2008

Prozone sells 27% to Triangle Real Estate

Prozone Enterprises has sold a 27% stake in its realestate subsidiary to Triangle Real Estate India Fund for a total consideration of Rs 457 Cr.The subsidiary holds stake in four projects that being developed in Aurangabad, Indore, Nagpur and Jaipur covering approximately 16 million sq.ft.

Triangle Real Estate India Fund is co-promoted by ICS group and Old Mutual Investment Group Property Investments, the property division of Old Mutual.

Prozone Enterprises, is a joint venture between apparel maker Provogue (India) and UK-based Liberty International.

1 comment:

rohndawson said...

Dedicated in-house laboratories provide essential services, but such labs are expensive to

operate and assets are under-utilized. Outsourcing the lab function reduces overhead and

operating costs while the company continues to benefit from needed laboratory services.