finance.yahoo.com

Blackstone Sells Up to $1.3 Billion Stake in India Realty Trust

Blackstone Group logoBlackstone Group
Sig3.16Sen+3.78Env0.00Soc+0.09Gov+0.22

Blackstone offered to sell up to 25% of Knowledge Realty Trust, backed with Sattva Group, in a deal that could raise about $1.25 billion to $1.3 billion. The floor price was 108 rupees per unit, and the offering ran August 31 for institutions and September 1 for retail. If the oversubscription option is exercised, Blackstone’s stake falls to about 21.5% and Sattva becomes the largest holder at 32%, with proceeds for capital redeployment after gains.

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