AIG To Sell $450M Indian RE Units Stake
AIG Global Real Estate is seeking to sell its stake in Bangalore-based RMZ realty units for $450 million.
AIG Global Real Estate (AIG GRE) is seeking to sell its stake in Bangalore-based RMZ realty units for $450 million, Hindustan Times reports. AIG GRE had invested $350 million in Bangalore, Hyderabad and Kolkata via a special purpose vehicle in 2007. RMZ has approached AIG GRE to buy out its stake in the project. Following its exit from the Bangalore project, AIG GRE will retain a 50% stake in the Hyderabad and Kolkata projects.
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