Mumbai-based developer Indiabulls Real Estate Limited has acquired non-promoter stake worth nearly Rs. 1,500 crore in its Singapore-listed property trust..Indiabulls Real Estate owns 54.95 per cent stake in Indiabulls Properties Investment Trust (IPIT) while the rest is held by Farallon Group (42.67 per cent) and public investors (2.38 per cent)..Luthra & Luthra were the Indian counsel for Indiabulls Real Estate and Allen & Gledhill LLP were the Singapore law counsel..The Luthra team was led by Partners Sundeep Dudeja and Vaibhav Kakkar along with Managing Associate Prashant Shah, and Senior Associate Avisha Gupta..Partner Karan Mitroo assisted on the Banking & Finance aspects of the transaction..Allen & Gledhill LLP team included Aloysius Ng and Christopher Koh..Wong Partnership were the Singapore law counsel while Trilegal acted as the Indian counsel for Farallon..The Trilegal team included Partners Nishant Parikh and Aniruddha Sen and Counsel Harsh Jain..The deal will result in India Bulls Real Estate “becoming the full 100 per cent owner of IPIT and IPIT will get delisted from SGX-ST, reported Business Standard.
Mumbai-based developer Indiabulls Real Estate Limited has acquired non-promoter stake worth nearly Rs. 1,500 crore in its Singapore-listed property trust..Indiabulls Real Estate owns 54.95 per cent stake in Indiabulls Properties Investment Trust (IPIT) while the rest is held by Farallon Group (42.67 per cent) and public investors (2.38 per cent)..Luthra & Luthra were the Indian counsel for Indiabulls Real Estate and Allen & Gledhill LLP were the Singapore law counsel..The Luthra team was led by Partners Sundeep Dudeja and Vaibhav Kakkar along with Managing Associate Prashant Shah, and Senior Associate Avisha Gupta..Partner Karan Mitroo assisted on the Banking & Finance aspects of the transaction..Allen & Gledhill LLP team included Aloysius Ng and Christopher Koh..Wong Partnership were the Singapore law counsel while Trilegal acted as the Indian counsel for Farallon..The Trilegal team included Partners Nishant Parikh and Aniruddha Sen and Counsel Harsh Jain..The deal will result in India Bulls Real Estate “becoming the full 100 per cent owner of IPIT and IPIT will get delisted from SGX-ST, reported Business Standard.
