Brookfield India Real Estate Trust to acquire 50% stake in 4 Bharti Enterprises marquee assets in NCR Moneycontrol.com
Brookfield India Real Estate Trust (BIRET) is set to acquire a 50 percent stake in four Grade A assets from Bharti Enterprises in Delhi and Gurugram, the real estate firms said on May 16. The enterprise value of the properties is around Rs 6,000 crore. The acquisition includes marquee commercial properties spread over 3.3 million square feet. The total equity consideration for the 50 percent stake would be fulfilled through a preferential allotment of units in BIRET to Bharti at Rs 300 a unit. It will make Bharti the second largest unitholder in BIRET with an ownership stake of 8.53 percent, the firms said in a joint statement.
