Key Points
Mumbai: Global private equity giant Blackstone is set to offload its entire 23.59% stake in Embassy Office Parks Reit for an estimated 6,931.5 crore, or $833 million, through a block deal on Wednesday..
As per the deal terms reviewed by Mint, the sale has a floor price of 310 per share, representing a discount of approximately 7.7% compared to Embassy Office Parks Tuesday closing price of 335.75 on the NSE..
This marks a significant exit for Blackstone, which had been a key investor in Embassy Office Parks Reit since its initial public offering (IPO) in 2019..
Embassy Office Parks Reit, backed by global private equity giant Blackstone Group LP and Bengaluru-based developer Embassy Property Developments, raised 4,750 crore in Indias first real estate investment trust through IPOs..
It owns and operates a 45.3 million square feet portfolio of nine infrastructure-like office parks and four city-centre office buildings in Indias best-performing office markets of Bengaluru, Mumbai, Pune, and NCR..
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Blackstone exits Embassy REIT; sells 23.5 pc stake for Rs 7,100 crore
20, Dec, 23New Delhi, Dec 20 (PTI) Global investment firm Blackstone on Wednesday sold its entire 23.5 per cent stake in Embassy Office Parks REIT for around Rs 7,100 crore to various foreign and domestic investors, including Capital Group, ICICI Prudential MF and SBI Mutual Fund, sources said. Embassy Office Parks REIT is India’s first Real Estate […]