Prestige Group sells assets worth Rs 7,467 cr to Blackstone
Bengaluru-based realty developer Prestige Group concluded the first phase of it asset sale, including shopping malls & office projects .
BusinessToday.In | March 10, 2021 | Updated 22:24 IST
The transaction will aid Prestige Group in building long-term strategic partnership with Blackstone Group, Irfan Razack said.
Following the nod from Competition Commission of India in December last year, Bengaluru-based real estate developer Prestige Group has sold assets worth Rs 7,467 crore to investment firm Blackstone in the first phase of Rs 9,100-crore transaction.
The phase one transaction included sale of 12 assets/ undertakings comprising completed retail, office and hotel assets. The rest of the transaction is expected to be completed by the end of the next quarter.
Prestige Group sells assets worth Rs 7,467 cr to Blackstone businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Read more about Blackstone inks pacts for first phase of over Rs 9,000-crore deal on Business Standard. Realty firm Prestige Estates Projects on Tuesday said it has signed definitive agreements with global investment firm Blackstone to sell 12 assets/undertakings comprising completed office, retail and hotel properties in the first phase of Rs
: Tuesday, March 2, 2021, 9:32 PM IST
Prestige signs agreement with Blackstone to sell 12 completed assets in 1st phase of Rs 9160cr deal
In November last year, the Bengaluru-based firm had signed term sheet to sell a large portfolio of completed as well as under-construction office, retail and hotel properties to Blackstone for an enterprise value of Rs 9,160 crore.
Realty firm Prestige Estates Projects on Tuesday said it has signed definitive agreements with global investment firm Blackstone to sell 12 assets/undertakings comprising completed office, retail and hotel properties in the first phase of Rs 9,160-crore deal.
In November last year, the Bengaluru-based firm had signed term sheet to sell a large portfolio of completed as well as under-construction office, retail and hotel properties to Blackstone for an enterprise value of Rs 9,160 crore. The company will use the fund to retire its debt and future expansion.