Valor Estate Ltd to Acquire 45% Stake in Worli Urban Development Project LLP for Internal Restructuring

Valor Estate Ltd, a Mumbai-based real estate and construction company, has announced that its wholly owned subsidiary (WOS), DB Contractors & Builders Private Limited, will transfer its entire 45% stake in Worli Urban Development Project LLP (formerly known as Lokhandwala DB Realty LLP) to another WOS of the company, MIG (Bandra) Realtors and Builders Private Limited. The transaction is part of an internal corporate restructuring for administrative efficiency and is being done at arm's length. The acquisition is expected to be completed within 15 days or such other period as may be extended with mutual consent of both the parties. The consideration will be paid through banking channel. Worli Urban Development Project LLP, incorporated in India on 01 October, 2014, is engaged in real estate and construction activities with a focus on a project in Worli, Mumbai.