Monday, May 8, 2017

XANDER GROUP INKS $350 MILLION DEAL WITH SHRIRAM PROPERTIES FOR CHENNAI SEZ

BANGALORE, India, May 5 (Bernama-BUSINESS WIRE) -- Shriram Properties and Xander Group have signed a $350 million deal, thereby creating one of the largest PE deals witnessed in the real estate space in India. With this deal, Xander acquires 100% interest in Shriram's Gateway SEZ in Chennai for $190 million, with a further commitment of $160 million towards expansion of the IT SEZ.

The deal involves 1.7 million square feet of occupied and operational SEZ, and a partnership with Shriram Properties to deliver the under construction 1.9 million square feet. Shriram Gateway is a 58-acre integrated township project including office space, a shopping mall and residential apartments.
http://mrem.bernama.com/viewsm.php?idm=29034

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