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LTG to invest in Provogue's Prozone Enterprises

Oct '08
Provogue India Ltd has informed that LTG International Ltd, promoted by Lewis Trust Group (United Kingdom) has entered into an agreement to invest Rs 56.97 Crores for a 3.36% stake in a step down subsidiary of Prozone Enterprises Pvt Ltd. (Prozone-Liberty).

This downstream subsidiary of Prozone- Liberty holds stake in four projects being developed in Aurangabad, Indore, Nagpur and Jaipur covering over approximately 16 million sq. ft.

Prozone Enterprise Pvt Ltd. (subsidiary of Provogue (India) Ltd) is a Joint venture between Provogue (India) Ltd and Liberty International PLC which is a UK FTSE 100 listed property Company, with assets of over GBP 8 Billion of which regional shopping centers account for over 85% of the portfolio.

Liberty owns 9 of the top 21 regional mixed use centers in the UK and are amongst the 20 largest REIT's in the world.

Provogue India Ltd

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