Prestige Estates Projects has signed a non-binding Letter of Intent (LoI) with certain entities, acting on behalf of funds controlled, managed and/or advised by The Blackstone Group, Inc. (collectively, Blackstone), which is a global private equity investor, for the sale of certain of the company's direct and indirect interest in certain commercial offices, retail and hotel properties, mall management and identified maintenance businesses.
Pursuant to the terms of the Letter, the company has provided to Blackstone, exclusivity in relation to the transactions contemplated in the Letter (Transactions). The Transactions will be consummated through a combination of primary investments, secondary transactions (share purchase / business transfers), partnerships / joint ventures or such other modes, as may be mutually agreed between the parties.
Prestige Estates Projects is engaged in the business of real estate development. The company’s principal products/services include Development and construction of Properties, Leasing of commercial properties and Share of profit /loss from partnership firm.
Company Name | CMP |
---|---|
Dilip Buildcon | 437.30 |
Macrotech Developers | 1167.95 |
NBCC (India) | 122.50 |
Prestige EstatesProj | 1241.10 |
DLF | 849.00 |
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