Emaar Properties, UAE's largest developer by market value, denied a media report that the company is valuing its Indian joint venture's assets in preparation for an exit or partial sale.
The Mint, an Indian newspaper, quoted sources familiar with the matter as saying that the developer has asked consultants and investment bankers to value Emaar MGF Land Ltd's assets and is reviewing its assets in India.
Mint said the parent company Emaar, headquartered in Dubai, has appointed Standard Chartered Bank in India to put a value on its holdings, and oversee the entire process, which may take three-six months to conclude.
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