[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
NEW DELHI: Realty firm Prestige Estates Projects Ltd on Monday said it has agreed to sell
a large portfolio of office, retail and hotel properties to global investment firm Blackstone
for an enterprise value of Rs 9,160 crore.
Bengaluru-based Prestige has signed term sheets on Monday with the Blackstone group,
and the deal is likely to be closed next month.
In October, Prestige Estates signed a non-binding letter of intent with Blackstone group
entities for the sale of certain direct and indirect interest in certain commercial offices,
retail and hotel properties, mall management and identified maintenance business.
In a regulatory filing, Prestige said the company on Monday executed a term sheet with
"The consideration will be based on the enterprise value of about Rs 91,60,00,00,000,"
According to sources, Prestige group promoters have sold solar park separately for around
Rs 800-900 crore, taking the total deal size to around Rs 10,000 crore
Read more at: https://realty.economictimes.indiatimes.com/news/commercial/prestige-group-to-sell-commercial-projects-to-blackstone-for-rs-9160-crore/79142574
Have a nice day