Blackstone nears $2 billion India property deal with Prestige: Report

The US private equity group is in advanced talks to acquire Prestige Estates Projects' rent-yielding assets including offices and operating malls

Blackstone Group Inc. is nearing a deal to buy an Indian developer’s commercial properties for about $2 billion, according to people with knowledge of the matter.

The US private equity group is in advanced talks to acquire Prestige Estates Projects Ltd.’s rent-yielding assets including offices and operating malls, the people said, asking not to be identified as the discussions are private. Terms haven’t been finalised and negotiations could still be delayed or fall apart, the people said.

A representative for Blackstone declined to comment. An email to Prestige wasn’t immediately answered outside of business hours in India Friday.

Blackstone is