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05-09-07
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Unregistered User
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Emaar Hires Citigroup and Merrill for India Share Sale
Emaar Properties PJSC has hired Citigroup Inc., Enam Financial Consultants and Merrill Lynch & Co. to sell shares in India.
JPMorgan Chase & Co. and Kotak Mahindra Capital Co. will also help arrange the sale of shares in the Dubai-based developer's Indian unit, Emaar MGF Ltd. It was said by Emmar earlier that it is planning to raise funds in India. Emaar is building homes, shopping malls, schools and hospitals from Morocco to the U.S. It expects a quarter of its revenue to come from India by 2010. Also, Emaar plans to invest $12 billion in India over the next five years. Emaar follows DLF Ltd., in tapping investor demand for real estate stocks. |
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| citigroup, emaar, hires, india, merrill, sale, share |
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