M&A

M&A

Prestige Estates buys out DB Group's 50% stake in 2 Mumbai projects for Rs 1,176-Cr

Economic Times  

Publicly listed realty developer Prestige Estates Projects has made two strategic acquisitions to attain complete ownership of two key projects in central Mumbai's Bandra-Kurla Complex (BKC) and South Mumbai's Mahalaxmi locality by picking up the 50% stakes from DB Group for a total consideration of over INR 1,176 crore. Both the projects are currently under construction and are expected to be completed within the next 3- 4 years.