Aditya Birla Real Estate (NSE:ABREL, BOM:500040) sold a 10% stake in its step-down subsidiary Vardhita Properties to MJR Investment, an affiliate of Mitsubishi Estate Co. Ltd., Japan, according to a Tuesday filing with the Indian stock exchanges.
Upon completion of the transaction, Vardhita Properties will no longer be a wholly owned subsidiary of Birla Estates, a wholly owned unit of the company.
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