Nexus Select Trust is set to acquire 100% of the share capital of Galaxy Infra Creations Private Limited for a purchase consideration of ~₹1,600 crore, from its existing shareholders Deepak Kayal, Manoj Kayal and others.
Galaxy is the owner, developer and operator of a 5.16 lakh sq. ft. Grade-A retail mall in Guwahati, India, by the name ‘Galaxy Mall’; and a 164-key hotel in Guwahati, India, by the name Hyatt Regency Hotel.
Khaitan & Co advised Nexus Select Trust on this fundraise.
The core team comprised of Shourya Sengupta (Partner), Deepak Jodhani (Partner), Gaurav Dasgupta (Partner), Sneh Lata (Counsel), Divyansh Joshi (Principal Associate), Vibhav Seth (Principal Associate), Shreetama Chakraborty (Principal Associate), Susom Chattopadhyay (Senior Associate) and Richaa Mukhopadhyay (Senior Associate).
The deal team was assisted by the following:
Due diligence: Prachi Chowdhary (Associate), Ishika Sinha (Associate)
REIT aspects: Aayush Mohata (Partner), Aparna Bagree (Partner)
Debt aspects: Rahul Chakraborti (Partner), Riya Agicha (Counsel)
Employment aspects: Deepak Kumar (Partner), Varsha Sankara Raman (Senior Associate)
ABAC diligence: Vinay Joy (Partner), Shaaryl Dsouza (Associate)
Strategic Inputs: Haigreve Khaitan (Managing Partner)
Execution Assistance: Unnati Khanna (Associate)
Antares Legal advised Galaxy Infra Creations and its shareholders, Deepak Kayal, Manoj Kayal and others, on this transaction.
The transaction was led by Arjun Anand (Partner) and Vivek Jha (Partner), with support from Akash Arya (Senior Associate) and Himanshu Verma (Associate).
Nexus is India’s first publicly listed retail real estate investment trust (REIT), owning and operating a portfolio of premium shopping malls across major Indian cities, and is India’s largest owner of Grade-A urban consumption centres.
This transaction marks Nexus’ strategic entry into Northeast India, becoming its first under-construction development deal in Northeast India and second such deal since listing.
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.