Blackstone, Embassy set to jointly acquire promoter's 39% stake in Indiabulls Real Estate

June 08, 2019 |
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Investments
Blackstone, Embassy set to jointly acquire promoter's 39% stake in Indiabulls Real Estate

The Indiabulls Group, which is looking to exit its real estate business so that it can get regulatory approvals for the proposed merger of Indiabulls Housing Finance with the Lakshmi Vilas Bank, is reportedly set to sign a deal with US-based investment firm Blackstone. The buzz is that the latter is looking to acquire Indiabulls chairman Sameer Gehlaut's entire 39 per cent stake in Indiabulls Real Estate Ltd (IBREL) through a joint venture with Bengaluru-based realty firm Embassy Group.

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