CapitaLand pulls out of talks with Blackstone for Pune infotech parks

Blackstone is aggressively buying office assets and malls in the last couple of years

Singapore-based developer-cum-investor CapitaLand has pulled out of talks to buy infotech (IT) parks of US-based Blackstone in Pune, sources in the know said.

Though the reason for CapitaLand pulling out of the project is not known, the size of the  deal between the two was expected to be around Rs 22 billion, sources said. “Earlier, CapitaLand was the front runner for the deal and doing due diligence but now it is not in the race,” said a source.

Now, another Singapore-based investor Xander has begun the talks with Blackstone, sources said.

Blackstone is selling its BlueRidge special economic zone (SEZ) and another SEZ