Global private equity giant Blackstone has exited Embassy Office Parks REIT, India's first publicly traded real estate trust. The company offloaded its entire 23.5% stake in a block deal on Wednesday estimated at a whopping ₹7,100 crore ($850 million), said people in the know.
Blackstone sold its shares at ₹316 apiece, attracting top buyers like Bain Capital, ICICI Prudential Mutual Fund, and Capital Group, each snapping up 7-9% stake in the company.
Blackstone's ownership in Embassy REIT has gradually declined from 55% during the REIT's initial public offering (IPO).
The PE fund started divesting with modest stake sales of 8% in June 2020 and 6% in September 2021, followed by a larger 8% block sale in September 2022. The sale of Embassy Tech Village in December 2020 further diluted Blackstone's stake.
Its exit culminated in December 2023 with a significant 23.5% stake sale, marking a complete departure from the REIT.
Diese Geschichte stammt aus der December 21, 2023-Ausgabe von Mint Mumbai.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der December 21, 2023-Ausgabe von Mint Mumbai.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Making a compelling case for first-time tablet buyers
The Apple iPad mini has been upgraded for AI features at a time when buyer interest in tablets is rising again
Soon, a digital, AI-enabled twin of St Peters
A new way to search and other AI-powered marvels in the news this week
Wearables Can Now Help Women Fight Cancer
Wearable devices are the next big leap in the prevention and treatment of breast cancer through early detection and monitoring
AI adoption by law firms may result in a talent crunch
An AI takeover of entry-level work would mean fewer lawyers trained to do what AI cannot
Monetary policy must account for climate risks as well
To begin with, the trade-off between inflation and growth will get much harder to manage
Trump is stuck with the Fed's Powell. He should make peace
The US president-elect's best bet is to let the central bank do its job
Gig worker social security: India should aim for a perfect balance
Gig workers would get an optimal mix of flexibility and protection if India's 2020 social-security code is implemented well
Will routine investors in Indian stocks keep calm and carry on?
It's unclear how long equities can count on SIP-mutual-fund support if prices continue to weaken
Let corporate earnings lead the Indian market
How much further will our investor-population boom go? While retail demand for shares might have space for growth, let's not forget these assets are only as good as their earnings
BUCKET STRATEGY: A ROAD MAP TO FUND YOUR SUNSET YEARS
Circumstances change, so your strategy should adapt to align with risks and financial goals
