Brookfield may sell two office assets; Indian Oil may not buy stake in GSPC LNG
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Canada’s Brookfield Asset Management is planning to sell two office assets in Gurugram and Kolkata, Business Standard reported, citing people aware of the development.

The two properties are part of Unitech Corporate Parks, which Brookfield acquired in 2013, the report said.

Citing consultants, the report said the estimated value of the Gurugram property is Rs 4,000-4,300 crore and the Kolkata asset is worth Rs 3,000-3,400 crore.

Last week, Mint reported that Brookfield was in advanced discussions to buy at least four luxury hotels and a land parcel from debt-laden Hotel Leelaventure Ltd for Rs 4,500 crore.

Earlier this year, Brookfield acquired Equinox Business Park in Mumbai from Essar Group for an enterprise value of Rs 2,400 crore ($360 million).

Meanwhile, state-run refiner Indian Oil Corp. may scrap the deal to pick up a 50% stake in GSPC LNG Ltd, a joint venture of Gujarat State Petroleum Corporation and Adani Enterprises Ltd, Mint reported, citing three people aware of the development.

GSPC LNG is building a liquefied natural gas terminal with a capacity of five million tonnes per annum at Mundra Port in Gujarat.

Citing a Gujarat government official, the report said Indian Oil informed GSPC LNG that it would not buy a stake in the terminal.

In August 2017, Indian Oil had received an in-principle approval from its board to acquire up to 50% stake in GSPC LNG.

Gujarat State Petroleum Corporation holds a 50% stake in the project. Adani group holds 25% stake, according to the report.

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