Brookfield India Real Estate Trust Seals 50% Stake Acquisition from Bharti
Brookfield India Real Estate Trust (BIRET) has recently finalized agreements to acquire a 50% stake in four Grade A assets from Bharti Enterprises (Bharti). This strategic move includes the acquisition of commercial properties spanning 3.3 million sq ft, valued at approximately Rs 60,000 million.
The transaction will be completed through a preferential allotment of units in BIRET to Bharti, priced at Rs 300 per unit, fulfilling the total equity consideration for the 50% stake. As a result of this acquisition, Bharti will become the second largest unitholder in BIRET, holding an ownership stake of 8.53%.
The acquired portfolio comprises several key assets, including the operational Worldmark properties at Aerocity New Delhi, a mixed-use property covering 1.4 million sq ft, the Airtel Center corporate facility spanning 700,000 sq ft in North Gurugram, and Worldmark Gurugram, a mixed-use asset extending over 700,000 sq ft.
Kotak Mahindra Capital Company served as the financial advisor to BIRET, while legal counsel for BIRET was provided by Khaitan & Co and Shardul Amarchand Mangaldas. Cyril Amarchand Mangaldas represented Bharti as its legal counsel in this transaction.
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