{"id":241,"date":"2012-05-08T18:31:25","date_gmt":"2012-05-08T13:01:25","guid":{"rendered":"http:\/\/www.franchisezing.com\/franchise\/?p=241"},"modified":"2012-05-08T18:31:25","modified_gmt":"2012-05-08T13:01:25","slug":"dlf-plans-to-sell-stake-in-insurance-jv-report","status":"publish","type":"post","link":"https:\/\/www.franchisezing.com\/franchise\/dlf-plans-to-sell-stake-in-insurance-jv-report\/","title":{"rendered":"DLF plans to sell stake in insurance JV: report"},"content":{"rendered":"<p><figure id=\"attachment_533\" aria-describedby=\"caption-attachment-533\" style=\"width: 250px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.franchisezing.com\/franchise\/wp-content\/uploads\/2012\/05\/DLF.gif\" alt=\"\" title=\"DLF India\" width=\"250\" height=\"160\" class=\"size-full wp-image-533\" \/><figcaption id=\"caption-attachment-533\" class=\"wp-caption-text\">DLF India<\/figcaption><\/figure>DLF India&#39;s biggest property company, plans to sell a majority stake in its life insurance joint venture to HCL Group for about Rs 500 crore, the Business Standard reported on Tuesday.<\/p>\n<p>Cash-strapped DLF aims to sell 51% in DLF Pramerica Life Insurance Company and use the proceeds to pay a part of its debt, the newspaper said, citing people with knowledge of the situation. KPMG has been appointed as advisor, it added.<\/p>\n<p>DLF has debt of about USD 4.2 billion and has been trying to reduce the burden by selling its non-core assets including the Amanresorts International hotel chain and a property in Mumbai.<\/p>\n<p>The company owns 74% in the joint venture and US-based Prudential International Insurance holds the remaining 26%.<\/p>\n<p>A DLF spokesman said the company does not comment on market speculation. A spokeswoman at HCL Group, whose flagship is technology services firm HCL Technologies, also declined comment. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>DLF plans to sell stake in insurance JV: report<\/p>\n<p>\tDLF&nbsp;, India&#39;s biggest property company, plans to sell a majority stake in<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-241","post","type-post","status-publish","format-standard","hentry","category-real-estate-news","list-style-post"],"_links":{"self":[{"href":"https:\/\/www.franchisezing.com\/franchise\/wp-json\/wp\/v2\/posts\/241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.franchisezing.com\/franchise\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.franchisezing.com\/franchise\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.franchisezing.com\/franchise\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.franchisezing.com\/franchise\/wp-json\/wp\/v2\/comments?post=241"}],"version-history":[{"count":0,"href":"https:\/\/www.franchisezing.com\/franchise\/wp-json\/wp\/v2\/posts\/241\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.franchisezing.com\/franchise\/wp-json\/wp\/v2\/media?parent=241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.franchisezing.com\/franchise\/wp-json\/wp\/v2\/categories?post=241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.franchisezing.com\/franchise\/wp-json\/wp\/v2\/tags?post=241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}