Indiabulls Real Estate acquires Dev Property
New Delhi, May 8 (UNI) Indiabulls Real Estate today said it has acquired all the ordinary shares in Dev Property Development Plc, an Isle of Man registered company.
The finalisation of the said acquisition shall be completed by cancellation of the 13,80,00,000 ordinary shares of Dev Property and issuing the same number of new shares to the firm, a company statement said.
The scheme is expected to become effective from today and the settlement of all consideration will occur within 14 days from this date, it added.
UNI SR AK BST1136
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