DLFs Manesar SEZ deal, in which Mitsui and an IL&FS entity planned to pick up 26% for around Rs 800 crore, seems to be in jeopardy. DLF and the two investors were slated to sign the agreement by March-end, but have now put it on the backburner, sources said.
A source, however, said, After having agreed upon the valuation and the investment figures, DLF is now dragging its feet. Its not clear why DLF is backing out of the deal, but sources said it could be related to the slowdown in the real estate sector that might have changed DLFs priority towards the SEZ and the pace at which it wants to develop it.
A DLF spokesman, however, denied having had any negotiations with Mitsui for investment in Manesar SEZ project.
More : economictimes.indiatimes.com
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