US-based Brookfield Corp on Tuesday divested a 5.13 per cent unit holding in Brookfield India Real Estate Trust (BIRET) for Rs 883 crore through open market transactions. According to the bulk deal data on the BSE...
Construction
Blackstone to acquire up to 66% stake in Kolte Patil Developers
Kolte Patil Developers (KPDL) has forged a transformative strategic partnership with global investment giant Blackstone. This partnership is a pivotal milestone in KPDL’s growth trajectory, positioning the company...
NCLT okays Leo Meridian Infrastructure Projects’ acquisition by Jalavihar Entertainment Consortium
The Hyderabad bench of the National Company Law Tribunal (NCLT) approved the Jalavihar Entertainment Pvt Ltd (JEPL)-led consortium’s acquisition of Leo Meridian Infrastructure Projects & Hotels Ltd. The defunct...
China Evergrande’s EV unit to sell 20% stake in Swedish firm for tax needs
China Evergrande Group’s electric vehicle (EV) unit said on Tuesday it agreed to sell its 20% stake in a Sweden-based real estate property lessor for 60 million krona ($5.63 million). The stake sale in AB...
SC stays NCLAT order directing NBCC to take over Supertech projects
The Supreme Court on Friday stayed the National Company Law Appellate Tribunal’s December order that directed NBCC (India) to take over and complete all the 16 projects of debt-ridden real estate firm Supertech...
Nexus Select Trust to acquire Ludhiana mall, hotel for Rs 490 crore
The board of directors of Nexus Select Mall Management, manager to listed Real Estate Investment Trust (REIT) Nexus Select Trust has approved the acquisition of an operational mall and a hotel in Ludhiana for an...
Valor Estate plans business realignment with non-core divestment, hospitality demerger
Realty developer Valor Estate is undertaking a realignment of its business portfolio by divesting non-core assets, hiving off its hospitality business, and improving capital allocation for high-priority projects...
SC clears Equinox-Embassy merger, paving way for real estate consolidation
The Supreme Court of India on Monday dismissed an appeal challenging the merger of Equinox India Developments—formerly Indiabulls Real Estate Ltd.—with Embassy Group, effectively clearing the final legal hurdle for the...
NCLT recalls insolvency order against Logix Infra, cites ‘fraudulent and mala fide’ intentions
In a rare move, NCLT has recalled and set aside its own order directing insolvency proceedings against realty firm Logix Infrastructure in July 2023, saying the plea was initiated with “fraudulent and mala fide...
CCI approves Adani Group unit’s majority stake purchase in ITD Cementation India
The Competition Commission of India (CCI) has approved Adani Group entity Renew Exim DMCC’s acquisition of up to 72.64% stake in engineering firm ITD Cementation India, a deal, analysts have said, would further boost...
Lloyd Enterprises’ board OKs to acquire additional 12.25% stake in LICL
Lloyds Enterprises announced that its board has approved the acquisition of an additional 12.25% stake in Lloyds Infrastructure & Construction (LICL) for a total consideration of Rs 14.21 crore. The Lloyds...
Equinox India Developments completes merger of NAM Estates, creates one of the largest listed realty firm
Equinox India Developments Limited has successfully merged NAM Estates, an entity of the Embassy Group, with itself, creating one of the largest publicly listed real estate companies in the market. The Boards of both...
