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Essar in talks to sell its Equinox office to Brookfield for Rs 24 billion

Essar would utilise the entire sale proceeds to repay loans

Essar
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The Essar group had in October 2016, signed a deal with Rosneft, United Capital Partners and Trafigura Group to sell 98 per cent equity in Essar Oil. Photo: Reuters

Press Trust of India
Essar group is in talks with global investment firm Brookfield to sell its 1.25 million sq ft Equinox Business Park at Bandra-Kurla Complex (BKC) in Mumbai for about Rs 24 billion (Rs 2,400 cr), according to sources.
 
The group had announced in 2016 that it would sell the property to realty firm RMZ Corp, but the deal could not be concluded.
 
It is now in the advanced stage of talks with Canada- based Brookfield Asset Management to sell Equinox Business Park, which has four buildings, the sources said.
 
The deal is expected to close this month for