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While private equity giant Blackstone and Pune-based realtor Panchshil Realty had offered Rs 800 crore for the building at Nariman Point, the building's owners -- Viveck Goenka, chairman and managing director of the Indian Express Group, and private equity firm ICICI Venture (which has 49 per cent stake in the property) -- expected the sale to fetch Rs 900 crore, said the executive.
No casualty or injury was reported in the mishap, he said.
After months of negotiations, an entity owned by Pune-based property developer Panchshil Realty and US-based private equity (PE) company Blackstone has bought a majority stake in Express Towers.
India's first escalator, its shortest elevator, a terror attack, a rescue operation -- the building's seen a lot.
US private equity firm Blackstone Group LP and Indian developer Panchshil Realty are close to buying a majority stake in an office tower in Mumbai for about Rs 900 crore (Rs 9 billion), two sources with direct knowledge of the matter said.
You finally end up with an army of midgets led by midgets, notes Sandeep Goyal.
Air India's plans to lease its headquarters in Nariman Point has been hit.
He is the man behind Blackstone's India strategy
The Express group is expected to get around Rs 500 crore (Rs 5 billion) from the deal.
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Draft prospectus to be filed next week; second trust, with Panchshil, in a few months
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