Blackstone, Panchshil Realty in talks to jointly buy ICICI Venture’s stake in Express Towers | VCCircle
Join us : Twitter Facebook Linkedin Youtube

Search form

Home >> Private Equity >>
print icon

Blackstone, Panchshil Realty in talks to jointly buy ICICI Venture’s stake in Express Towers 

BY  Pooja Sarkar
The deal may give absolute returns of around 70 per cent to ICICI Venture in its five-year old investment.

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...

Register Now
Already registered? Login

A Premium membership gives you:

  • Access to all premium articles including exclusives, analyses & commentary.
  • Access to archives of over six years.
  • Exclusive interviews with top fund managers, CEOs and bankers.
Get Access
Enter your VCCircle username.
Enter the password that accompanies your username.
Advertisement

chinetwork

Copyright © 2014 VCCircle.com.
A property of Mosaic Media Ventures Pvt Ltd.