Blackstone very likely to acquire 40% stakes in Kolte-Patil Developers
Amercian asset management firm Blackstone is very likely to acquire a 40% equity stake in Kolte-Patil Developers in a deal worth over Rs 1,167 crore. The deal involves preferential allotment and stake purchase from promoters.
The board of directors of Kolte-Patil has approved a preferential allotment of shares to the Blackstone entity BREP Asia III India Holding Co VII, raising approximately Rs 417 crore from the global investment firm.
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