TT&A, ELP Facilitate ₹110 Crore Share Sale by Intu Properties to Apax Trust
This significant transaction marks a major milestone for Intu Properties, which has been in administration in the UK since 2020, as it divests its entire portfolio of assets in India. Prozone Realty, a prominent real estate developer, is at the center of
Real EstateShare SaleIntu PropertiesProzone RealtyApax TrustReal EstateJan 08, 2025
This transaction is a significant milestone for Intu Properties, which has been in administration in the UK since 2020 and has been actively looking to divest its Indian assets.
Nikhil Chaturvedi acted as the trustee for Apax Trust, while TT&A advised Nailsfield Limited on the share sale.
The transaction team at TT&A consisted of Kunal Thakore (Partner), Pratika Shankar (Partner), and Nandini Pradhan (Associate).
On the other side, Economic Laws Practice (ELP) advised Apax Trust, with additional legal support from Anuj Tiwari, an independent practitioner.
Intu Properties PLC, a British real estate investment trust (REIT), specialized in shopping center development and management.
It was a major player in the UK and Spanish retail property markets, owning and operating a portfolio of significant shopping centers.
However, the company faced financial difficulties and entered administration in 2020, leading to its efforts to divest its assets in India.
Prozone Realty Limited, a leading real estate developer in India, has a strong presence in major cities and is known for its innovative approach to retail development.
The company focuses on developing and managing large-scale shopping malls and mixed-use projects, making it a key player in the Indian real estate market.
This transaction not only marks a significant step in Intu Properties' strategy to divest its assets but also highlights the growing interest in the Indian real estate market.
The deal is expected to bring further stability and growth to Prozone Realty, leveraging the expertise and resources of Apax Trust.
Frequently Asked Questions
What is the significance of this share sale for Intu Properties?
This share sale marks a significant step in Intu Properties' strategy to divest its assets in India, which has been a key focus since the company entered administration in the UK in 2020.
Who advised Nailsfield Limited on this transaction?
TT&A advised Nailsfield Limited on the share sale transaction. The transaction team at TT&A included Kunal Thakore (Partner), Pratika Shankar (Partner), and Nandini Pradhan (Associate).
What role did Economic Laws Practice (ELP) play in this deal?
Economic Laws Practice (ELP) advised Apax Trust on the share sale transaction, with additional legal support from Anuj Tiwari, an independent practitioner.
What is the current status of Intu Properties?
Intu Properties PLC, a British real estate investment trust (REIT), entered administration in 2020 due to financial difficulties. The company has been focusing on divesting its assets, including those in India.
What does this deal mean for Prozone Realty?
This deal is expected to bring further stability and growth to Prozone Realty, leveraging the expertise and resources of Apax Trust. Prozone Realty is a leading real estate developer in India, known for its innovative approach to retail development.
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