Goldman Sachs, Deutsche Bank and another financial investor are likely to make a combined investment of $800 million in three special purpose vehicles (SPVs) being created by real estate major Emaar MGF.
Each SPV will have one financial investor, who will hold minority stake. According to sources, the Delhi-based developer is in advanced talks with private equity players and likely to close three separate deals in a month.
The deals will be the first major fund flow into the real estate firm since it withdrew its IPO in February.
Emaar MGF, 40% owned by Dubai-based Emaar and 56% by Delhi-based MGF, was forced to withdraw its Rs 7,000-crore offering—the third largest in the history of India—due to poor market sentiment. (ET)