DLF, Everstone join hands for ₹3,750-crore IREO investment

MUMBAI DLF Ltd and Singapore-headquartered global investment manager Everstone Group have entered into a binding and exclusive term sheet to form a joint venture (JV) to invest in IREO Private Ltd and its group companies in India. DLF plans to invest approximately ₹3,750 crore for a majority stake in the proposed JV, which will hold an economic interest in IREO’s Indian entities.

Investments in these entities are currently held through foreign direct investment (FDI) funds. Under a separate binding and exclusive term sheet signed with the IREO FDI Funds, the JV proposes to acquire a stake of at least 20% in the Indian entities, along with certain governance rights.

Its aggregate economic interest, including contractual and other interests, is expected to be approximately 40%, with the FDI Funds retaining the balance.