CCI Clears Blackstone’s Rs 11.5 Billion Kolte-Patil Deal
The Competition Commission of India (CCI) has approved Blackstone’s acquisition of a 40 per cent stake in Pune-based Kolte-Patil Developers Ltd. The deal, valued at Rs 11.5 billion, marks Blackstone’s entry into the Indian residential real estate sector.The acquisition will be made by Blackstone’s affiliate, BREP Asia III India Holding Co VII Pte Ltd, through a combination of preferential share subscription and promoter stake purchase. As part of the agreement, Blackstone will also launch an open offer to acquire up to 26 per cent of Kolte-Patil's equity from public shareholders for an a..
Arkade Buys Thane Land for Rs 1.7 Billion Project
Arkade Developers Ltd has entered the Thane real estate market with the purchase of a 6.28-acre freehold land parcel for Rs 1.72 billion, including stamp duty. The Mumbai-based real estate company announced the acquisition in a regulatory filing on Friday, marking its strategic expansion beyond central and western Mumbai.The acquired site will house a mixed-use residential and commercial development, with a gross development value (GDV) of Rs 20 billion (USD 240 million). The planned development will offer a total saleable area of approximately 926,000 square feet, and is scheduled to launch i..
Ashwin Sheth Group Buys 50% Stake in One Marina
Mumbai-based real estate developer Ashwin Sheth Group has acquired a 50 per cent stake in the Rs 23 billion (USD 275 million) luxury residential project One Marina, located in South Mumbai’s upscale Marine Lines. The acquisition was announced on 11 June and marks a major move in the city's premium housing market.The stake was acquired from Vallabh Sheth and Jitendra Sheth, promoters of Sheth Creators, who previously co-owned the project along with YM Infra, the landowner. This acquisition was supported by a substantial USD 65 million (over Rs 5.4 billion) investment commitment from PAG Singa..
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