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CCI clears deal involving Blackstone, Embassy Group

Press Trust of India  |  New Delhi 

The has approved the deal involving global company and realty firm

The deal involves restructuring of Embassy Group, Group and certain third parties into Embassy office parks REIT (Real Estate Trusts).

In a tweet on Thursday, the said it "approves acquisition of of and Group by Embassy".

Post deal, Embassy Office Parks REIT will undertake an initial public offer and list its units on recognised stock exchanges in India, the said.

Sebi had notified REITs and InvITs Regulations in 2014, allowing setting up and listing of such trusts which are very popular in some advanced markets.

is one of the leading in the country. It has developed over 45 million sq ft of prime residential and commercial projects.

The company, in joint venture with Blackstone, has developed business parks covering about 34 million sq ft of office space.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 23:15 IST