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.
