DLF picks up 19 pc in Feedback Ventures
DLF Universal has picked up 19 per cent stake in Delhi-based infrastructure consultancy Feedback Ventures Pvt Ltd for about Rs 16 crore.
"The total value of Feedback is Rs 84 crore and we paid 19 per cent of that to pick up the stake," said Mr Ramesh Sanka, DLF Group CFO.
As part of the deal, DLF will also have two representations on the board of Feedback Ventures.
The two officials are Mr Sanka and the head of the residential vertical of DLF, Mr David Rebello.
"The two of us will be on the board in the next board meeting of Feedback," said Mr Sanka.
DLF picked up the stake because of the huge talent and manpower pool and expertise in infrastructure services that Feedback has.
"The company has been extending its services to us for several years. By making this strategic investment, we are making sure that the relationship continues," said Mr Sanka.
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