Dubai's Emaar confirms it's in talks with Adani Group to sell a stake in its Indian subsidiary. The deal, valued at Rs 40-50 billion, is still being finalised

Emaar Properties, Dubai's largest listed real estate firm, is in talks with "a few groups" in India including Adani Group to sell a stake of its Indian business, it said on Thursday. The builder of the world's tallest building,

The Dubai real estate company said in a disclosure to DFM that the valuations and other terms have not been finalised

The statement followed media reports on Wednesday stating that Adani Realty, the real estate unit of Indian billionaire Gautam Adani's Adani Enterprise, was in advanced talks to acquire a majority stake in Emaar India.

If the Emaar India deal goes through, it will be Adani's largest purchase in real estate, where it has made several acquisitions in the last few years

The deal is expected to involve the acquisition of 70-100 percent ownership in Emaar India, primarily through Adani Realty, an unlisted entity under the Adani Group, states the report.

Emaar India is the Indian arm of Dubai-based Emaar Properties, which built and owns the world's tallest building, Burj Khalifa

Emaar Properties, Dubai's largest real estate developer, is in discussions with several Indian entities, notably the Adani Group, to divest a portion of its Indian operations. The company has not disclosed specific details regarding the valuation or terms of the potential transaction.

Emaar entered the Indian real estate sector in 2005 and has since built a diverse portfolio of residential and commercial properties across key cities. Emaar confirms talks with Adani Group for stake sale in Indian operations.

The statement followed media reports on Wednesday stating that Adani Realty was in advanced talks to acquire a majority stake in Emaar India

The Adani Group is reportedly in advanced discussions with Dubai-based Emaar Properties to acquire a majority stake in its Indian subsidiary, Emaar India, for an estimated Rs 4,000-5,000 crore.