Global fund Blackstone on Wednesday raised around $300 million (about ₹2,270 crore) by selling its shares in Embassy Office Parks REIT to monetise part of its investment, sources said. Blackstone was targeting to raise up to $257 million (around ₹1,950 crore), but increased the size of its offer on account of increased demand from institutional investors. Embassy Office Parks REIT is the country’s first Real Estate Investment Trust (REIT), which was launched last year by realty firm Embassy group and global investment firm Blackstone to raise nearly ₹5,000 crore. The REIT is listed on the stock exchange. Post this deal, Blackstone stake will come down by around 9 per cent from around 55 per cent shareholding earlier.
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Blackstone raises ₹2,270 cr via stake-sale
PTI
New Delhi |
Updated on
June 24, 2020
Published on
June 24, 2020
×
Published on
June 24, 2020
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Blackstone raises ₹2,270 cr via stake-sale
PTI
New Delhi |
Updated on
June 24, 2020
Published on
June 24, 2020
×
Published on
June 24, 2020
A letter from the Editor
Dear Readers,
The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.
Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.
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We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.
But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.
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