Indiabulls sells its entire stakes in companies owning commercial assets to Blackstone

J. Sagar Associates (JSA) advised Indiabulls Real Estate Limited (“IBREL”) and its subsidiaries which have entered into definitive agreements with entities controlled by the Blackstone Group Inc. (“Blackstone”), a globally renowned real estate private equity investor, to divest IBREL’s entire stake in Mariana Infrastructure Limited (which owns commercial project in Gurugram) and the commercial assets/development in Mumbai. The divestment is at an aggregate enterprise value of approximately Rs. 810 Crores, subject to closing adjustments, if any. The JSA Team comprised Partner – Lalit Kumar and Bharat Bhushan Sharma, Associate - Amandeep Singh Virk and Junior Associate – Aakanksha.