KKR has dragged Bengaluru-based Mantri Developers to the National Company Law Tribunal (NCLT) over a ₹145 crore credit facility that it had granted the company five years ago, according to people aware of the matter...
Chinese developer Shimao shares rise nearly 5% after more asset disposals
Shares of cash-strapped Shimao Group rose on Monday after the Chinese developer and its chairman sold a Shanghai hotel and a stake in a Hong Kong development, respectively, for a total of $836 million, in their latest...
Cash-strapped Chinese developer Shimao sells stake in asset to state-owned partner
Chinese property developer Shimao Group joined smaller peer Agile Group to sell its stake in a Guangzhou complex to state-owned partner China Overseas Land & Investment (COLI) in a push to reduce its debt. Shimao...
Suraksha group expects NCLT nod by March to acquire Jaypee Infra; gearing up to start construction
Mumbai-based Suraksha group on Sunday said the company expects to get the approval of the NCLT by March to acquire Jaypee Infratech Ltd (JIL) through insolvency process and complete around 20,000 flats for homebuyers...
Chinese developer Shimao sells unit in a bid to reduce debt
Chinese real estate company Shimao Group Holdings on Friday announced the sale of its unit to a state-owned entity in order to reduce its debt. Shimao’s unit, Shanghai Shiying Investment Management Company, sold...
UAE’s Alpha Dhabi increases stake in Aldar to 30%
UAE-based conglomerate Alpha Dhabi said on Monday it has increased its stake in Abu Dhabi developer Aldar Properties to 29.8% after acquiring an additional 17%. The increase in ownership came after Alpha Dhabi acquired...
UK’s Terra Firma plans to sell Annington Homes at $12 bln valuation- Sky News
Private equity firm Terra Firma is in talks to sell residential property company Annington Homes, with any deal expected to value the British defence ministry’s landlord at over 9 billion pounds ($12.18 billion)...
HDFC acquires stake in Ansal Housing via invocation of pledged shares
HDFC Ltd today announced that it has acquired 8.42% stake in real estate developer Ansal Housing through invocation of pledged shares. The non-banking lender has invoked pledge on 5 million shares of Ansal Housing to...
NCLT allows withdrawal of insolvency proceedings against MGF Developments
The National Company Law Tribunal (NCLT) has allowed the withdrawal of insolvency proceedings against real estate firm MGF Developments after the company reached a settlement with the homebuyers who had dragged the...
NIIF, KKR, Adani bidders for Brookfield’s India road business
Close to a dozen suitors have shown interest in acquiring Peak Infrastructure, the Indian road platform of Brookfield Asset Management, said multiple people aware of the development. About 12 non-disclosure agreements...
China-listed firms rush to divest property businesses amid sector crackdown
China-listed companies are increasingly divesting real estate businesses amid stricter regulatory scrutiny of the industry, according to filings and state media, in a year dominated by headlines of financial woe at...
NCLT initiates insolvency proceedings against MGF Developments Limited
The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against real estate firm MGF Developments, on a petition filed by a group of homebuyers. The NCLT has also appointed an interim resolution...
