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Indiabulls Real Estate sells properties to Blackstone for Rs 2,700 crore

Indiabulls Real Estate has sold a 50 stake in Indiabulls One Centre and Indiabulls Finance Centre in the Lower Parel area of Mumbai and a commercial property in Gurugram to Blackstone

Indiabulls Real Estate
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Raghavendra Kamath Mumbai
After selling a 50 per cent stake in Mumbai and Gurugram commercial properties to US-based fund manager Blackstone one and a half years ago, Indiabulls Real Estate sold the remaining stake to the former for Rs 2,717 crore.

Indiabulls Real Estate has sold a 50 stake in Indiabulls One Centre and Indiabulls Finance Centre in the Lower Parel area of Mumbai and a commercial property in Gurugram to Blackstone.

In March last year, Indiabulls sold 50 per cent in the same Mumbai properties to Blackstone for Rs 4,750 crore at an enterprise valuation of Rs 9,500 crore.  Indiabulls said the equity value

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First Published: Sep 26 2019 | 8:46 PM IST

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