Indiabulls Real Estate Ltd has bought back the entire stake held by US-based investment fund Farallon Capital in its seven projects spread across Gurgaon, Sonepat and Chennai for Rs. 1,172 crore ($187 million)..Luthra & Luthra Law Offices advised Indiabulls Real Estate while Trilegal acted for Farallon Capital..The Luthra team was led by Partner Sundeep Dudeja along with Managing Associate Vaibhav Kakkar and Associate Snigdhaneel Satpathy..The Trilegal team was led by Mumbai Partner Nishant Parikh..Farallon had invested Rs 847.48 crore in seven projects of Indiabulls during 2006-08 and has exited at 38% higher price, reports ET..The investment by Farallon Capital into Indiabulls in 2007 was one of the first instances of Foreign Direct Investment in the real estate sector in India. This transaction marks one of the largest exits by a foreign investor in the Indian real estate sector, according to media reports..With the purchase of the stake, these project subsidiaries will now be fully owned by Indiabulls Real Estate.
Indiabulls Real Estate Ltd has bought back the entire stake held by US-based investment fund Farallon Capital in its seven projects spread across Gurgaon, Sonepat and Chennai for Rs. 1,172 crore ($187 million)..Luthra & Luthra Law Offices advised Indiabulls Real Estate while Trilegal acted for Farallon Capital..The Luthra team was led by Partner Sundeep Dudeja along with Managing Associate Vaibhav Kakkar and Associate Snigdhaneel Satpathy..The Trilegal team was led by Mumbai Partner Nishant Parikh..Farallon had invested Rs 847.48 crore in seven projects of Indiabulls during 2006-08 and has exited at 38% higher price, reports ET..The investment by Farallon Capital into Indiabulls in 2007 was one of the first instances of Foreign Direct Investment in the real estate sector in India. This transaction marks one of the largest exits by a foreign investor in the Indian real estate sector, according to media reports..With the purchase of the stake, these project subsidiaries will now be fully owned by Indiabulls Real Estate.