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Citigroup Sells Interest in India Housing Development Finance Corporation
Practices
As reported in The American Lawyer on Friday, Paul, Weiss client Citigroup Inc. sold its 9.85 percent interest in India's Housing Development Finance Corporation Ltd. (HDFC), India's leader in housing finance, in a stock sale of an estimated 145 million shares of HDFC on the National Stock Exchange in Mumbai. The stock sale is expected to bring in total proceeds of approximately $1.9 billion, resulting in a pre-tax gain to Citigroup of $1.1 billion.
The Paul, Weiss team advising Citi includes corporate partners David K. Lakhdhir and Mark S. Bergman and counsel Patrick C. Scott.