MUMBAI: Shares of real estate developer Brigade Enterprises surged after the company along with the Government of Singapore Investment Corporation jointly bought a piece of prime land in Bangalore's Whitefield from Hindustan Unilever for Rs 125 crore.
While Brigade will hold a majority stake, GIC will control 49 percent of the upcoming project. GIC will be investing a little over Rs 100 crore in the project, including land and construction costs, Brigade said in a notice to the stock exchange late last evening. Full story
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Singapore sovereign fund GIC picks 49% in Bangalore residential SPV of Brigade Enterprises - Vccircle.com
