Peninsula inks Rs 1,200 cr deal with Essar

Sale/Lease of property to Essar1,200 Sale of office space to Alok Industries1,075 JV with Lehman Brothers700 Placement to foreign investors525  Peninsula sold two buildings with a total space of 7 lakh sq feet at Rs 15,000 per sq feet, raising nearly Rs 1,050 crore and will rent a building of 1.58 lakh sq feet at Rs 150 per sq feet, thus making another Rs 150 crore.  The revenues from the sale/lease of the fourth building will go towards the repayment of debt raised by Peninsula-Swan JV for developing the land, sources said.  Essar is expected to partly utilise this property for the use of the group companies. Currently, Essar