In furtherance to intimation dated November 2, 2018, Indiabulls Real Estate has informed that the company has entered into definitive transaction document(s) with entities controlled by The Blackstone Group L.P., which is a globally renowned real estate private equity investor, to divest up to 50% stake in two office assets in Udyog Vihar, Gurugram, aggregating 784,000 sq ft leasable office space, which are presently owned by the company through its wholly owned subsidiaries, at an aggregate enterprise value of approximately Rs 464 crores. Subject to satisfaction of customary conditions, the closing is expected to take place within the current financial quarter.
The above information is a part of company’s filings submitted to BSE.
