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No need for lockdown, focus on Covid-19 tests: PM Narendra Modi to CMs Conceding that India was in the grip of a serious public health crisis that had surpassed the first wave of the Covid-19 pandemic, Prime Minister Narendra Modi on Thursday urged state governments to test more even if that meant higher reporting of the infection. Armed with experience of managing the first wave, better health infrastructure and a locally manufactured vaccine, lockdowns should be avoided altogether, the PM told chief ministers at the virtual meet on Covid.
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Embassy group in talks with Blackstone to sell warehouse biz for Rs 1,800 cr enterprise value
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Embassy group in talks with Blackstone to sell warehouse biz for Rs 1,800 cr enterprise valuePTI
Last Updated: Apr 09, 2021, 05:32 PM IST
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Synopsis
In 2015, the Bengaluru-based Embassy group had formed a joint venture with private equity firm Warburg Pincus to build industrial parks. Warburg Pincus has a 70 per cent stake while the Embassy group has a 30 per cent shareholding in the joint venture firm Embassy Industrial Parks.
Agencies
Embassy Group already has around 14 per cent stake in Mumbai-based IBREL, which is part of the Indiabulls group.
Realty firm Embassy group is in the advance stage of talks with global investment firm Blackstone to sell its warehousing and industrial parks business at an enterprise value of around Rs 1,800 crore, sources said. In 2015, the Bengaluru-based Embassy group had formed a joint venture with private equity firm Warburg Pincus to build industrial parks. Warburg Pincus has a 70 per cent stake while the Embassy group has a 30 per cent shareholding in the joint venture firm Embassy Industrial Parks. According to sources, the Embassy group is in discussion with the Blackstone group for the complete divestment of the JV firm.
Embassy group in talks with Blackstone to sell warehouse biz for Rs 1,800 cr enterprise value freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.