Private equity giant Blackstone Group has entered into definitive agreements with listed developer Indiabulls Real Estate Ltd to buy up to 50% stake in two commercial properties in Gurugram..Indiabulls Real Estate is parting with the stake at a combined enterprise value of Rs. 464 crore (around $66 million). The two office assets are in the Udyog Vihar locality and have a leasable area of 784,000 sq-ft, according to VCCircle..Shardul Amarchand Mangaldas acted for Blackstone and the team was led by Partners Mithun V. Thanks and Anuj Bhasme along with Principal Associate Neety Thakkar, Senior Associate Gaurav Dugar and Associates Avichal Mathur, Nirav Punjani, Rutvi Shrimankar and Harshavardhan Sunder..Partner Ashoo Gupta along with Principal Associate Daryush Marfatia and Associate Mansi Samdani advised on real estate aspects, and Partner Shweta Shroff Chopra and Senior Associate Supritha Prodaturi provided anti-trust related advice..Simpson Thacher & Bartlett acted as international legal counsel to Blackstone while Kirkland & Ellis conducted the FCPA due diligence..J. Sagar Associates acted for Indiabulls and team was led by Partner Lalit Kumar along with Principal Associate Bharat Bhushan Sharma and Associate Amandeep Singh Virk.
Private equity giant Blackstone Group has entered into definitive agreements with listed developer Indiabulls Real Estate Ltd to buy up to 50% stake in two commercial properties in Gurugram..Indiabulls Real Estate is parting with the stake at a combined enterprise value of Rs. 464 crore (around $66 million). The two office assets are in the Udyog Vihar locality and have a leasable area of 784,000 sq-ft, according to VCCircle..Shardul Amarchand Mangaldas acted for Blackstone and the team was led by Partners Mithun V. Thanks and Anuj Bhasme along with Principal Associate Neety Thakkar, Senior Associate Gaurav Dugar and Associates Avichal Mathur, Nirav Punjani, Rutvi Shrimankar and Harshavardhan Sunder..Partner Ashoo Gupta along with Principal Associate Daryush Marfatia and Associate Mansi Samdani advised on real estate aspects, and Partner Shweta Shroff Chopra and Senior Associate Supritha Prodaturi provided anti-trust related advice..Simpson Thacher & Bartlett acted as international legal counsel to Blackstone while Kirkland & Ellis conducted the FCPA due diligence..J. Sagar Associates acted for Indiabulls and team was led by Partner Lalit Kumar along with Principal Associate Bharat Bhushan Sharma and Associate Amandeep Singh Virk.