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News Roundup: Blackstone seeks to buy business park in Mumbai for $176M

05 June, 2013

The Blackstone Group is in advanced talks to buy a business park in India’s financial capital Mumbai for about 10 billion rupees ($176 million). Indian property fund IL&FS Milestone owns a 74% stake in the 247 Business Park, in Vikhroli in central Mumbai, while Hindustan Construction Company Ltd. controls the other 26%.In 2010, HCC sold a 74% holding to IL&FS Milestone for 5.75 billion rupees. U.S. private equity firm Blackstone has been aggressively buying commercial assets in India over the past couple of years. In February, Blackstone, along with two other companies, agreed to buy a business park in south India for 19.5 billion rupees ($343.31 million). ()

Promoters of Starcom Information plans to sell stake: Ziaulla Sheriff, the promoter of Starcom Information Technology Ltd. is looking to sell an aggregate of 6,86,005 equity shares representing 13.72% of the equity share capital of the company as on May 31, 2013 exclusively through the Seller’s brokers on the separate window provided by the stock exchange for this purpose. The Sale shall take place on the separate window of the Stock Exchange and shall commence on June 05, 2013 at 10.00 am. Emkay Global Financial Services Ltd. is the manager to the issue. (BSE)

Courtesy: VCCEdge


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News Roundup: Blackstone seeks to buy business park in Mumbai for $176M

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