Singapore’s sovereign wealth fund GIC is in talks with warehousing developer ESR group to pick up a 10 million square feet portfolio of warehousing space for an enterprise valuation of around $400 million...
Construction
Embassy Group plans to sell assets to cut debt by a third: Group chairman Jitu Virwani
Bengaluru-based real estate developer Embassy Group plans to sell some assets to bring down its total debt by one-third over the next two quarters, group chairman Jitu Virwani said, rejecting reports that put the...
Aurum PropTech set to buy Ratan Tata-backed NestAway
Proptech major Aurum PropTech is set to acquire Goldman Sachs, Tiger Global and Ratan Tata-backed managed rental home company NestAway Technologies through a complete buyout of all existing shareholders, said persons...
KKR Infra fund looks to buy majority stake in supply chain firm Leap India
Private equity firm KKR’s infrastructure fund has started exclusive talks to pick up over 51% stake in supply chain and warehousing asset pooling company Leap India, at an enterprise valuation of around ₹3,000...
Holcim acquires British precast materials maker Besblock
Holcim is buying Besblock Ltd, a British maker of precast building materials, the Swiss cement and concrete maker said on Wednesday. Besblock, which makes sustainable building blocks using recycled aggregates and 24%...
Oberoi Realty inks pact to acquire NRB Bearings’ 6.4-acre land in Thane
Property developer Oberoi Realty has entered into an agreement with NRB Bearings to acquire the latter’s around 6.4 acre land parcel in Thane’s Pokhran Road 2 along with structures thereon. The company...
Edelweiss-backed Sekura Roads to acquire Thrissur Expressway Ltd
Edelweiss-backed Sekura Roads is all set to acquire Thrissur Expressway Limited (TEL), the 28-km long road asset owned by KMC Constructions in a deal worth Rs 800 crore, said multiple people aware of the development. At...
Embassy Property plans to divest assets soon to pare debt by over 30%
Embassy Property Development, a leading real estate firm, intends to slash its debt of ₹8,800 crore by more than a third in the upcoming two quarters by divesting specific assets, including its office park in Chennai...
GIC buys Phoenix’s Hyderabad IT Park for Rs 1,050 crore
Singapore sovereign wealth fund GIC has acquired an information technology-special economic zone (IT-SEZ) spread over 1.1 million sq ft in Hyderabad’s Gachibowli locality from the Phoenix Group for ₹1,050 crore...
Swedish real estate group SBB secures cash with JM stake sale
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...
