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Indiabulls Real Estate can sell Chennai asset for Rs 1,200 crore
Posted on 28th Mar 2018 17:22:23 in Finance
In order to ease its debt burden, realty developer Indiabulls Real Estate is looking to sell its Chennai commercial asset One Indiabulls Park for around Rs 1,200 crore, according to a report The company is in advanced talks with global private equity (PE) houses like Blackstone Group, Brookfield Asset Management, and Xander Group, sources said.
They confirmed that the proceeds from the Blackstone deal and the sale of Chennai properties will be used to repay the company’s debt and bring net debt to under Rs 2,000 crore.