Lehman, Deutsche to buy stake in Unitech unit -paper
MUMBAI, March 24 |
MUMBAI, March 24 (Reuters) - Lehman Brothers LEH.N and Deutsche Bank (DBKGn.DE) are in advanced talks to buy a minority stake in an arm of realty firm Unitech Ltd (UNTE.BO) for a total of about $500 million, the Economic Times said on Monday.
Citing a source close to the development, the newspaper said the deal was likely to close in the next three weeks. It said Unitech declined comment.
The Unitech unit was developing about 2 million square feet of office space in Mumbai, the paper said. (Reporting by Narayanan Somasundaram; Editing by Charlotte Cooper)
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