Private Equity

Private Equity Fund Investments

Lake Shore eyes $100-M debt from Apollo Global to buy Viviana Mall

Business Standard  

Abu Dhabi Investment Authority (ADIA)-backed Lake Shore India Advisory is in talks with US-based private equity fund manager Apollo Global Management to raise USD 100 million (INR 740 crore) debt. The proceeds will be used to fund the acquisition of Viviana Mall in Thane on Mumbai's outskirts. Lake Shore is buying Viviana Mall from Singapore's GIC and Ashwin Sheth group for INR 2,000 crore. Viviana Mall is spread on a 13-acre land parcel on Thane's on Pokhran Road and has a total lease area of 1.7 million sq ft. It houses one of the largest multiplexes with 14 screens. GIC had picked up 49% stake in Viviana Mall from Sheth Group in early 2016.