Blackstone sells 21% stake in Nexus Select Trust for Rs.4,361-Cr

Private Equity firm Blackstone has sold a 20.8% stake in its retail malls-focussed real estate investment trust (REIT), Nexus Select Trust, for INR 4,361 crore at INR 138 a unit. Buyers included Morgan Stanley Asia, HDFC Flexi Cap Fund, ICICI Prudential MF, French asset management firm Carmignac, and Wells Fargo Emerging Markets.Blackstone, which held 43.13% stake in the REIT at the end of June, divested the stake via the NSE and BSE through several bulk deals.