B.S.R. Engineering & Development Ltd. is in the midst of advanced negotiations to purchase land earmarked for the construction of 3,000 housing units in Bangalore, India, Yedioth Ahronoth reported Monday.  

The deal, which is estimated at tens of millions of dollars, is expected to be finalized in the coming days, the report said.  

B.S.R. Europe Ltd., the daughter company of B.S.R. Engineering, announced on Sunday that it would pay NIS 236 million (about $58 million) in dividends to the company's shareholders after selling its asset portfolio in Eastern Europe to AFI Europe, a member of Africa Israel Investments Group

Yedioth Ahronoth has also learnt that B.S.R. Europe is currently focusing on development projects in Ukraine, Bulgaria and Romania. The company has also begun construction of a lavish 40-storey residential tower in the Marriot Hotel complex in Warsaw with a number of partners.  

Meanwhile, Kalman Sufrin and Nachshon Kivity, the controlling shareholders of B.S.R. Engineering, are negotiating the sale of a mall in Limassol, Cyprus.
News Source: www.ynetnews.com