Deutsche to boost India ranking with $1bn property stake

Tuesday 27 March 2007 at 11:38

Deutsche Bank has bought a 5% stake in Indian property company Emaar MGF Land for $1bn (€750m), ahead of its expected $5.7bn float, which is set to be India's largest, and could propel the bank up the country's equity capital market league tables.

India's Business Standard newspaper reports that New-Delhi based Emaar sold the stake to Deutsche last week.