Macrotech Developers Acquires Bain Capital’s Stake in 3 Entities for Rs 307 Crore
Macrotech Developers, one of India's leading real estate firms, has acquired Bain Capital's stake in three industrial and logistics park entities for Rs 307 crore to boost its rental income.
Macrotech DevelopersBain CapitalReal EstateIndustrial ParksRental IncomeReal EstateNov 07, 2024
In a recent regulatory filing, Macrotech Developers announced that it has executed Securities Purchase Agreements (SPAs) with India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1, both associated with Bain Capital. The SPAs were signed for the acquisition of Bain Capital's interests in the following entities Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd, and Bellissimo In City FC Mumbai 1 Pvt Ltd.
Bain Capital held a 30% stake in Bellissimo Digital Infrastructure Development Management Pvt Ltd and a 33.33% stake in the other two entities. This acquisition aligns with Macrotech Developers' strategic goal of gradually increasing its annuity income.
Frequently Asked Questions
What entities did Macrotech Developers acquire from Bain Capital?
Macrotech Developers acquired stakes in Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd, and Bellissimo In City FC Mumbai 1 Pvt Ltd from Bain Capital.
What is the value of the acquisition?
The acquisition of Bain Capital’s stakes in the three entities is valued at Rs 307 crore.
What is the strategic objective behind this acquisition?
The strategic objective is to enhance Macrotech Developers' rental income through investments in industrial and logistics infrastructure, aligning with their goal of growing annuity income.
What other significant acquisition did Macrotech Developers make recently?
Earlier in September, Macrotech Developers acquired the interest of Ivanhoe Warehousing India Inc (Ivanhoe) in the digital infrastructure platform entities.
How does this acquisition fit into Macrotech Developers' broader business strategy?
This acquisition fits into Macrotech Developers' broader strategy to diversify its portfolio and expand its presence in the industrial and logistics sectors, providing a more stable and consistent revenue stream.
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