Sensex 29278.84 272.82 0.94%
Nifty 8835.6 74.2 0.85%
US private equity firm Blackstone has inked India's biggest commercial real estate acquisition deal, which will give it 50% stake in a Bangalore builder-owned portfolio of three business parks for $200 mn, according to reports.
Reports stated that the deal beats Citigroup's acquisition of a Mumbai office building earlier this year for Rs 9.85bn.
Blackstone, which invests in realty firms, has bought stake in an SPV comprising three commercial properties totalling over 10 million sq ft — Embassy Golf link and Manyata Embassy Business Park in Bangalore and Embassy Tech Zone in Pune, reports said.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.