Buyout giant Blackstone is in advanced talks to acquire a Mumbai-based business park for INR10bn ($176m), said Reuters, citing two sources with direct knowledge of the situation.
The 247 Business Park, which is located in the Vikhroli area of central Mumbaik, is currently owned by Indian property fund IL&FS Milestone and Hindustan Construction Company (HCC).
HCC holds a 26 per cent interest in the park after offloading a 74 per cent interest in to IL&FS Milestone for INR 5.75bn in 2010.
Earlier this year Blackstone bought a business park in south India for INR19.5bn, two sources told Reuters.
Last month it was reported that Blackstone and fellow buyout majors Carlyle, Advent International and Bain Capital were amongst bidders for a $1bn stake in Indian IT services group MphasiS owned by Hewlett-Packard.
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