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.
Click here for the story from Hindustan Times.