Blackstone, Panchshil Realty in talks to jointly buy ICICI Venture’s stake in Express Towers
Private equity firm Blackstone has joined hands with Pune-based realtor Panchshil Realty to initiate talks for buying 49 per cent stake in Express Towers, one of the iconic commercial properties in India’s financial capital Mumbai. The two have formed a special purpose vehicle to jointly acquire the stake held by ICICI Venture, two independent sources told VCCircle.
Blackstone, which has been one of the most active investors in the Indian real estate space striking big ticket deals in commercial realty, has been rumoured to be eyeing a stake the property for some time now. However, this time it is not...
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