Blackstone in the final leg of talks to buy out Embassy Industrial Parks

Embassy has a long-standing partnership with Blackstone through their JV Embassy Office Parks, which has floated and listed a real estate investment trust (REIT)

US-based private equity (PE) giant Blackstone is in the final leg of talks to buy out PE major Warburg Pincus and Bengaluru-based property developer Embassy from their warehousing joint venture (JV), known as Embassy Industrial Parks, said sources in the know.

Though the JV was looking to monetise the business at an enterprise value of Rs 1,700-1,900 crore in an earlier round of talks with investors last year, the deal could happen close to the price range, said sources.

But much has happened since then.

“The deal talks are at a fairly advanced stage and will be signed by March-end,” said the source.  

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