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Blackstone sells 23.5% stake in Embassy REIT for Rs 7,100 crore
The Business Guardian
|December 21, 2023
On Wednesday, Blackstone, the global investment firm, divested its complete 23.5% ownership in Embassy Office Parks REIT for approximately Rs 7,100 crore, as per insider information.
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Embassy Office Parks REIT, backed by Blackstone and Bengaluru-based real estate company Embassy Group, stands as India's inaugural Real Estate Investment Trust (REIT).
Blackstone sold its stake in the entity at around Rs 316 per share through open market transactions and at this price, the deal is valued at about Rs 7,100 crore, the sources said.
The selling price was at a discount. The company's share declined 1 per cent to close at Rs 332.11 apiece on Wednesday.
Dit verhaal komt uit de December 21, 2023-editie van The Business Guardian.
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