M&A

M&A

ADIA-backed Lake Shore India Advisory acquires Thane's Viviana Mall for Rs.1,900-Cr

Business Standard  

Lake Shore India Advisory, backed by the Abu Dhabi Investment Authority (ADIA), has acquired Thane-based Viviana Mall for INR 1,900 crore. The property was jointly owned by Singapore’s sovereign wealth fund GIC and Mumbai-based real estate developer Ashwin Sheth Group. Ashwin Sheth Group held a 51% stake in the mall, while GIC owned the remaining 49%.GIC had initially invested in the asset in 2016 at a valuation of INR 900 crore.Following the acquisition, the mall will be rebranded as “Lake Shore”.