Prestige Estate Projects has signed definitive agreements with global investment firm Blackstone to sell 12 assets/undertakings comprising completed office, retail and hotel properties in the first phase of Rs 9,160 crore deal. In November last year, the company had signed term sheet to sell a large portfolio of completed as well as under-construction office, retail and hotel properties to Blackstone for an enterprise value of Rs 9,160 crore. The company will use the fund to retire its debt and future expansion.
Prestige Estate 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.
