Prestige Estates to buy 80% in Sterling Urban Infraprojects
Builder Prestige Estates Projects has signed an agreement to acquire 80% stake in Sterling Urban Infraprojects that holds a land parcel in Bangalore. The Rs 3.36 billion deal is for acquisition of 80 per cent stake held by investors and…

Builder Prestige Estates Projects has signed an agreement to acquire 80% stake in Sterling Urban Infraprojects that holds a land parcel in Bangalore.

The Rs 3.36 billion deal is for acquisition of 80 per cent stake held by investors and its affiliates in Sterling, the company said in a regulatory filing. The acquisition is expected to be concluded by March 31.

Sterling owns around 59 acres of land at outer ring road-Sarjapour, Bangalore. Prestige is planning to develop over 6-million-sq-ft commercial complex on this land parcel.

Started in 2007, Sterling Urban Infraprojects is in the business of construction and real estate development.

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