King Stubb & Kasiva advises Prestige Group on ₹524 crore acquisition of Allure Developers

Prestige Estates Projects Limited has acquired 100% of the equity share capital of Allure Developers Private Limited for a consideration of approximately ₹524 crore.

King Stubb & Kasiva advised Prestige Group on this acquisition. The Firm advised on all aspects of the transaction, including title and corporate due diligence on Allure and the project land, structuring of the acquisition, and the drafting and negotiation of the share purchase agreement and related transaction documents.

The transaction was led by Adnan Siddiqui (Partner, Real Estate) and Surbhi Kapoor (Partner, Corporate), with support by Abhishek Paliwal, Vartika Srivastava, Bhavika Madnani and Azala Firoshi.

Deepak Raj Govind (Vice President – Legal, Prestige Group) and Uma Shankar (Legal Manager, Prestige Group) were also involved in this transaction.

Prestige Estates Projects is one of India’s leading real estate developers headquartered in Bengaluru.

Allure is developing a residential project in Sector 150, Noida, and has become a wholly owned subsidiary of Prestige pursuant to the transaction.

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