Real estate developer Prestige Estates Projects Ltd has abandoned a plan to sell a stake in its office portfolio to Singapore’s sovereign wealth fund GIC Pte Ltd. The Bengaluru-based company signed a term sheet with GIC in February to sell a 40% stake in a clutch of office projects for about Rs 2,000 crore. The transaction was expected to close within 60-90 days, Prestige said at the time.
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