DLF to invest Rs 3,750 cr in JV with Everstone to buy stake in IREO India

NEW DELHI: Real estate major DLF and Everstone Group, a Singapore-headquartered global investment manager, will form a JV to invest in IREO pvt ltd and other group companies in India (IREO India Companies) held by the IREO group of FDI funds (IREO Funds), with investments from reputed global investors.DLF intends to invest about Rs 3,750 crore for a majority stake in the JV that will hold economic interest in the IREO India companies. The proposed JV intends to invest these funds to acquire at least 20% stake in the IREO India Companies, together with certain governance-related rights.Through the proposed transaction, the JV’s aggregate economic interest in the IREO India Companies will be about 40%, with the IREO Funds holding the balance. The proposed transaction could deliver developments across Delhi, Gurugram and other regions. On completion, the IREO India Companies will be operated by an independent management team under the guidance of DLF and Everstone.The proposed transaction is subject to customary closing conditions, including satisfactory completion of due diligence, receipt of all applicable corporate, regulatory and third-party approvals, and execution of definitive documents. Closing is expected to occur during 2027.DLF MD Ashok Kumar Tyagi said: “We are pleased to partner with Everstone Group on this strategic investment. Bringing together strong industry experience and global investment capabilities, we look forward to unlocking the growth potential of the IREO India Companies.”Everstone Group co-founder and CEO Sameer Jain said: “It’s our privilege to partner with DLF, especially given their incredible capabilities in a market they understand extremely well. Consistent with our fiduciary responsibilities we look forward to working hard and creating significant value for our IREO Funds investors.”You use AI every day. Now get your AI Quotient. Take the AIQ test.