Blackstone's Bold Move: Major Stake in Kolte-Patil Developers
Global investment firm Blackstone acquires a 40% stake in Kolte-Patil Developers for Rs 1,150 crore. The deal involves a preferential issue and promoter group purchase, with an open offer to follow. Blackstone aims to expand its India exposure, recently also filing for a REIT public issue.
- Country:
- India
Global investment powerhouse, Blackstone, has unveiled plans to acquire a 40% stake in Kolte-Patil Developers, an Indian real estate giant, by investing Rs 1,150 crore, as stated in their recent exchange filing.
The breakdown of the investment includes Rs 417 crore for a 14.3% stake through a preferential equity issue and Rs 750 crore to get a 25.7% stake from the promoter group. An additional 26% stake acquisition via an open offer is also in the plans.
This investment is part of Blackstone's broader strategy to deepen its exposure in India, doubling it to USD 100 billion. In a related move, Blackstone and Sattva Group's Knowledge Realty Trust recently filed for a public REIT issue, poised to monetize prime office assets across major cities.
ALSO READ
-
African Venture Capital Gets a Boost as Oxford Programme Builds Investor Connections
-
Services Trade Hits $9.6 Trillion, Opening New Doors for Developing Economies
-
Lee Jae Myung's Diplomatic Milestones: Balancing Amidst Global Tensions
-
Canadian Trade Minister Heads to India for Pivotal Economic Talks
-
Japan's Economic Crossroads: Takaichi's Bold Moves Amidst Debt Concerns
Google News