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HCC sell its 26% stake in Vikhroli Corporate Park to Blackstone

01 Jun 2015 Evaluate

Hindustan Construction Company (HCC) has sold its entire 26% stake in Vikhroli Corporate Park which owns the premium commercial building, 247 Corporate Park, located at Vikhroli West, in Mumbai. The company has sold its stake to Blackstone Purchase Entities on May 28, 2015.

While HCC owned 26 percent of the stake, the remaining 74 percent was owned by ILFS Milestone Fund and others. The deal was valued at over Rs 1,000 crore, which includes assumed debt, resulting in a net cash inflow of approximately Rs 200 crore to HCC. In FY 2010-11, HCC Group had raised approximately Rs 300 crore when it had sold its 74% stake to ILFS Milestone Fund.

HCC is a leader in engineering and construction space. The company has established a vast presence and gained recognition in the sectors of Hydro Power, Water Solutions, Transportation and Nuclear Power.



HCC Share Price

20.60 0.43 (2.13%)
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