M&A

M&A

Nexus Select Trust to acquire Galaxy Complex in Guwahati for Rs.1,600-Cr

Business Standard  

Mumbai-based Nexus Select Trust is to acquire a 100% stake in the Galaxy Complex in Guwahati for INR 1,600-Cr. The transaction, which marks Nexus’ entry into Northeast India, will be financed through about 40% debt, with the remainder covered by fresh unit issuance and a unit swap.The Galaxy Complex is a mixed-use development currently under construction, featuring a 0.5 million square foot grade-A mall and a 164-key Hyatt Regency hotel. The assets are being developed by the seller, Galaxy Infra Creations. Nexus Select Trust will assume operational responsibility for the complex once construction is completed.This acquisition is the second under-construction development project for the company since its listing and is part of its broader strategy to expand across consumption markets in East and Northeast India.