How the DLF deal tilted towards GIC

GIC and Blackstone were neck-and-neck for acquiring DLF promoters' 40% stake in their rental arm

Singaporean sovereign fund GIC and US-based private equity giant Blackstone were neck-and-neck for acquiring DLF promoters’ 40% stake in their rental arm DLF Cybercity Developers (DCCDL). The realty major on Wednesday said it has entered into a exclusive agreement with GIC to sell the stake. DLF, however, did not announce the value of the deal, which is expected to be to the tune of Rs 12,000 crore.

Bid amount not withstanding, several factors tilted the scale in favour of GIC, say a top company executive and analysts. 

“GIC has the experience of having Reits (real estate investment trusts) in Singapore,”