AZB, CAM lead on Blackstone's acquisition of Xander's Stake in Pune project

Bar & Bench October 11 2017

Xander Group has sold its roughly 49% stake in Pune’s International Convention Centre (ICC), a mixed-use project of Panchshil Realty, to private equity giant Blackstone Group.

Xander Group had picked up the stake through one of its PE funds in 2010 for roughly Rs 500 crore. Blackstone has now paid somewhere between Rs 1,100 and Rs 1,200 crore for the asset, reported VCCircle . . .

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