Troubled Swedish real estate group SBB has sold most of its shares in construction company JM for 2.8 billion Swedish crowns ($276 million), the company said, taking a significant loss on a stake bought less than two...
NCLT Chandigarh withholds Embassy Group companies’ merger with Indiabulls Real Estate
The Chandigarh bench of the National Company Law Tribunal (NCLT) has withheld the proposed merger of NAM Estates and Embassy One Commercial Property Developments with Indiabulls Real Estate. The merger sanctioned by...
Allianz-Shapoorji looks to exit Hyderabad’s IT SEZ Waverock for Rs 2,000 cr
In the single largest potential commercial property exit this year, a JV between the Allianz Group and Shapoorji Pallonji Group entity is looking to exit nearly 2.5 million sq ft IT SEZ property Waverock in Hyderabad...
Runwal buys out GIC’s entire 50% stake in Mumbai’s R City Mall
Realty major Runwal has bought out Singapore’s sovereign wealth fund GIC’s entire 50% stake in their joint retail property R City Mall for around Rs 1,000 crore to get complete control of the asset in Mumbai’s Ghatkopar...
LTI Mindtree, LTTS consolidate realty assets
Technology firms LTI Mindtree and L&T Technology Services (LTTS) are consolidating their real estate portfolio across Chennai amidst cost-cutting and hybrid work models implemented across sectors. LTI Mindtree has...
KGK Realty takeover of Anudan Properties gets NCLT approval
India’s bankruptcy court has allowed the acquisition of Anudan Properties by Mumbai-based developer KGK Realty (India). The Committee of Creditors (CoC) approved KGK Realty’s resolution plan with 76.35%...
Virtuous Retail in talks to sell malls for about $500 million
Virtuous Retail South Asia is in talks with Nexus Malls and Lake Shore India Advisory to sell all its malls for $400-500 million (about Rs 3,500-4,000crore). The retail company, a joint venture between Singapore’s...
Holcim acquires British recycling company Sivyer Logistics
Holcim has acquired Sivyer Logistics, a British company which recycles construction and demolition waste in London. Sivyer currently handles roughly 1 million tons of materials per year, using recycling and recovery...
Embassy REIT Acquires Embassy Business Hub in Bengaluru for Rs 334.8 crore
Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, has agreed to acquire Embassy Business Hub, a 1.4 million square feet (‘msf’) office property in Bengaluru, for a total...
NCLT admits HDIL firm Privilege Power and Infrastructure under insolvency process
The bankruptcy court has admitted Privilege Power and Infrastructure, an affiliate of Housing Development and Infrastructure (HDIL), under the Corporate Insolvency Resolution Process (CIRP). The Mumbai bench of the...
Triton-controlled Crayfish takes 9.9% stake in Finnish constructor Caverion
Crayfish Bidco Oy, a company controlled by Triton, said on Thursday it has bought a 9.9% stake in Finnish construction company Caverion Oyj, following the Swedish venture capital group’s $1.17 billion takeover bid...
Bankruptcy court dismisses revival plan for Ujaas Energy
A bankruptcy court in Indore has rejected a revival plan for Ujaas Energy, adding the observation that the Committee of Creditors (CoC) cannot extinguish the rights of a secured creditor to proceed against the listed...
