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Brookfield, GIC vying for up to 50% stake in Four Seasons Mumbai

( June 13, 2017, 05:06 GMT | Insight) -- Brookfield Asset Management and Singapore's GIC are vying to acquire up to a 50 percent stake in Provenance Land, which owns the Four Seasons hotel and residences in Mumbai, the Times of India reports. Brookfield Asset Management and Singapore's GIC are vying to acquire up to a 50 percent stake in Provenance Land, which owns the Four Seasons hotel and residences in Mumbai, the Times of India reports. Provenance Land is valued at more than 20 billion rupees ($310.1 million) and could divest between 26 percent and 50 percent, with sale proceeds to be channeled into the development of luxury homes and offices connected to the hotel. Brookfield, said to be the frontrunner in the final lap of the race, already holds $44.7 billion of Indian assets and the acquisition would be its first in the country's hospitality sector. ...

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