DLF has said that it is going to hold a board meeting on August 25 to decide on promoters’ proposal for selling their 40 percent stake in its rental arm to investment firm GIC in a deal which is estimated at around Rs 13,000 crore.

DLF, in regulatory filing, informed that a meeting of the audit committee will be held on August 25 to “consider and review  the status of the proposed sale of CCPS held by CCPS holders to a GIC affiliate including the key terms and conditions and make appropriate recommendations to the board.”

It added that “The board will in its meeting scheduled to be held later on August 25, 2017, consider the said recommendations and take appropriate decisions, as required.”

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