Marathon Nextgen Realty has received an approval for acquisition of ‘Marathon FutureX IT Park’ business owned by Marathon Realty, a related party. The acquisition is expected to be completed by end April 2018 and the lump sum consideration is Rs 93 crore.
This acquisition will be subject to the required approvals being obtained including that of the shareholders of the company under section 188 of the Companies Act 2013.
Marathon Nextgen Realty focuses on residential and commercial segments. The company’s JV projects include Marathon Monte Carlo, Mulund, which is a residential suit; Marathon Monte Vista, Mulund, which is a 33 story residential tower, and Marathon Monte Plaza, Mulund, which includes retail and offices.