US-based private equity major Blackstone Group is planning to raise around $400 million by selling part of its stake in India’s maiden Real Estate Investment Trust, Embassy Office Parks REIT, by the middle of next...
NCLT admits insolvency petition against real estate developer Ajnara
The Delhi bench of the National Company Law Tribunal has initiated bankruptcy proceedings against Ajnara India Ltd, a Noida-based real estate developer on a petition filed by 128 homebuyers or its project Ajnara...
China Evergrande’s stake in regional bank sold for $1.05 billion
A consortium of Chinese state-owned and private companies agreed to pay the equivalent of $1.05 billion for a minority stake in a domestic bank held by China Evergrande Group, helping the troubled property developer...
U.K. builders Countryside Partnerships, Vistry near $3.2 bln merger deal -WSJ
British builders Countryside Partnerships and Vistry Group are nearing a deal to form a $3.2 billion residential developer, suggesting a win for U.S.-based activist fund Browning West, the Wall Street Journal reported...
French builder Eiffage in talks to acquire Sun’R Group as earnings rise
French building and infrastructure company Eiffage has entered exclusive negotiations to acquire green energy group Sun’R, it said on Wednesday after posting a rise in first-half earnings. Through the acquisition...
Blackstone in talks to buy Delhi’s Select Citywalk Mall
Nexus Malls, the Indian retail portfolio arm of the investment firm Blackstone group, is in talks to acquire Delhi’s premium mall Select Citywalk which generates the highest sales per square foot in the country...
Brazilian homebuilder Gafisa ends talks to buy Construtora São Jose
Brazilian homebuilder Gafisa SA said that talks over its potential acquisition of rival Construtora São Jose have ended unsuccessfully but noted that the parties “remain open” to potential future...
Indiabulls Real Estate net debt down 54%, merger with Embassy Group underway
Indiabulls Real Estate has cut its net debt by 54% to Rs 464 crore during the three months ended June, compared to the March quarter. Besides, the merger with the Embassy Group is in the final stage of the National...
NCLT approves Prakash Asphaltings & Toll Highways’ resolution plan for Rajahmundry Godavari Bridge
The bankruptcy court has approved the resolution plan submitted by Prakash Asphaltings & Toll Highways (India) Ltd for Rajahmundry Godavari Bridge Ltd (RGBL). The bridge, built on the river Godavari, connects...
NCLAT rejects Satra Properties plea, sends company into insolvency
Rejecting a plea filed by the promoter of realty developer Satra Properties (India), the National Company Law Appellate Tribunal (NCLAT) has upheld the ruling of the National Company Law Tribunal’s Mumbai bench to...
Sanskar Projects and Housing dragged to NCLT over default
Delhi-based builder Sanskar Projects and Housing, promoted by Ravi Arora has been dragged to National Company Law Tribunal (NCLT) under Section 7 of Insolvency and Bankruptcy Code, over a default of over Rs 5 crore by...
Oaktree, Hines may buy GM Infinity’s Bengaluru property
Oaktree Capital and Hines are in advanced talks with Bengaluru-based builder GM Infinity for a forward purchase agreement to acquire its proposed commercial property in Bengaluru, said two people with direct knowledge...
