Bangalore-based Sobha Developers Ltd has bought out the entire 81 per cent stake held by its Dubai-based partner Pan Atlantic Investments in its special purpose vehicle (SPV), Sobha Developers (Pune) Pvt Ltd, for an undisclosed amount.
Currently, the SPV is executing a residential township project called Sobha Forest View, located at Hosahalli village in Bangalore.
Sobha Developers, backed by an investment arm of Singapore’s sovereign wealth fund Temasek, had raised an estimated $20 million from Pan Atlantic in two tranches for its project in Hosahalli. Full story
