GlaxoSmithKline Pharmaceuticals Ltd is to sell to Oberoi Constructions Pvt Ltd, its two properties located at L B S Marg, Mulund, Mumbai, admeasuring in the aggregate 76,125 sq mts or thereabouts for a total considerable of Rs 221 crore.
The decision was taken by the Board of Directors of the Company at its meeting held on July 13, 2005.
The Company has received an advance payment of Rs 221 crore and the sale will be completed on receipt of all necessary approvals, a GSK release said.