Friday, December 19, 2008
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US-Bank Wachovia could pick up a significant equity stake in Hiranandani Realtors, part of Mumbai-based property developer Hiranandani Group. In the last one year, Wachovia has invested Rs304 crore into the Indian firm through financial instruments that will be converted into equity. Wachovia had entered into an agreement in August 2007 to invest $77 million in Hiranandani Realtors.
Wachovia may pick up stake in Hiranandani's realty arm
US-Bank Wachovia could pick up a significant equity stake in Hiranandani Realtors, part of Mumbai-based property developer Hiranandani Group. In the last one year, Wachovia has invested Rs304 crore into the Indian firm through financial instruments that will be converted into equity. Wachovia had entered into an agreement in August 2007 to invest $77 million in Hiranandani Realtors.
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