Indiabulls Real Estate unit buys realty firm

Thursday, February 7, 2008, 12:38 [IST]

New Delhi, Feb 7 (UNI) Indiabulls Real Estate Ltd today said its real estate unit, Indiabulls Infrastructure Ltd (IIL), has acquired Catherine Builders and Developers Pvt Ltd from DLF Home Developers Ltd.

Catherine has 50 per cent stake in Kenneth Builders and Developers Pvt Ltd, while the remaining stake is owned by a wholly-owned unit of IIL.

''With this acquisition, IIL now owns 100 per cent stake in Kenneth through wholly-owned subsidiaries,'' a company statement said.

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