Goldman Sachs property deal on standstill

Almost a year after Goldman Sachs Group Inc invited bids for its 6.5 acre under-construction project in Bengaluru, where a Four Seasons hotel and residences were planned, it accepted a bid by RMZ Corp. The company owns 75 per cent of the shares of the property, partnering with Century Real Estate Holdings which holds the remaining 25 per cent. However, recently, Century Real Estate Holdings brought in Embassy Property Developments due to which the Rs 600 crore deal is uncertain. About Rs 300 crore worth liabilities of the bank are going to be paid off by Embassy Property Developments.<.p> Contact: Goldman Sachs Group Inc. Tel: 080-4127 1600. Website: www.goldmansachs.com