Construction Industry News
Competition Commission of India has approved the acquisition of commercial real estate by Nexus Select Trust. Nexus Select Trust is a Sebi registered real estate investment trust (acquirer REIT) and is backed by global investment firm Blackstone.
The proposed transaction includes the direct acquisition of 100 percent shares of 15 entities and indirect acquisition of 100 percent shares of two entities trading through the manager of acquiring REIT - Select Infrastructure and Nexus South Mall Management, according to an official release.
It also approved the direct acquisition of 50 percent of ITIPL shares from its existing shareholders by the acquiring REIT (trading through its manager), the release said. The entities are mainly engaged in the commercial real estate sector in India.
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