Provogue in JV with British realty firm

Provogue India has entered into a joint venture (JV) agreement with Liberty International, UK, in order to develop and manage prime regional shopping centers.

According to Provogue's release to the BSE, under the agreement, Liberty will take 25% of the equity shares of Prozone Enterprises, Provogue's wholly owned retail infrastructure subsidiary, subject to FIPB approval.

Based on current projections, Liberty International's equity contribution in respect of these six centres will be of the order of Rs 202.5 crore.