Brigade Enterprises has informed that the Company has entered in to a Shareholders Agreement and Securities Subscription Agreement on March 03, 2016 with Reco Caspia Private Limited, an investment vehicle of GIC, Singapore and Perungudi Real Estates Private Limited, a special purpose vehicle. The Company and Reco Caspia Private Limited will be acquiring 100% equity stake in Perungudi Real Estates Private Limited (‘Target’), a special purpose vehicle by purchasing 10,000 equity shares from the existing shareholders of the Target and subscribing to certain securities of the Target, thereby jointly proposing to invest an aggregate amount of Rs 600 Crores. The Target proposes to acquire property for undertaking construction development activities.
The above information is a part of company’s filings submitted to BSE.
