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Blackstone Group is acquiring 50% share capital of: (a) Indiabulls Properties Private Limited, (b) Indiabulls Real Estate Company Private Limited, (c) Yashita Buildcon Limited, and (d) Ashkit Properties Limited (collectively, the Portfolio Companies) from Indiabulls Real Estate Limited for around ₹2,717 crores.
The Target Companies own and manage marquee projects, such as Indiabulls Finance Centre, One Indiabulls Centre, and Indiabulls Tech Park.
Shardul Amarchand Mangaldas acted for Blackstone Group and the team was led by Partner Anuj Bhasme, along with Principal Associate Neety Thakkar, Senior Associates Gaurav Dugar, Nishtha Soonee, Nishant Sharma, Avichal Mathur, Neekesh Shetty, and Associates Nirav Punjani, Sangeetha Ganesh, Rutvi Shrimankar and Apeksha Narula.
Akshay Chudasama, Managing Partner – Mumbai Region, provided key strategic inputs and guidance.
Partner Ashoo Gupta, along with Associates Mansi Samdani, Aanchal Jogani, and Shourya Dasgupta, advised on real estate. Partner Gauri Chabbra along with Associate Kajori De advised on competition law aspect while Partner Veena Sivaramakrishnan and Principal Associate Utkarsh Bandhu advised on Banking and Finance law.
Simpson Thacher & Bartlett acted as international legal counsel to Blackstone while Kirkland & Ellis conducted the FCPA due diligence.
J. Sagar Associates acted as legal counsel to IBREL, and the team was led by Partner Lalit Kumar, along with Associate Amandeep Singh Virk.