Veritas Legal and Shardul Amarchand Mangaldas Advise on Major 360 One Alternates Investment
360 ONE Alternates Asset Management Limited has acquired a significant minority stake in Arliga Ecoworld Business Parks Private Limited (Ecoworld SPV), a wholly owned subsidiary of Brookfield India Real Estate Trust. This strategic move sees 360 ONE investing ₹1,150 crore, which includes an equity investment of ₹1,089.82 crore and an NCD investment of ₹60.18 crore.
Veritas Legal played a crucial role in advising 360 One Alternates on this stake acquisition. The firm was involved in legal due diligence, drafting, and negotiating transaction documents, and assisted with closing formalities. They also focused on the Banking & Finance and Real Estate aspects of the transaction.
The transaction team at Veritas Legal was led by Manav Raheja (Senior Partner), with contributions from Parshva Doshi (Principal Associate), Avadhoot Potnis (Principal Associate), and Associates Kritvi Kumar and Ishan Mhapsekar. Avantika Mehndiratta (Associate) conducted the due diligence, while Jhinook Roy (Partner) and Akriti Gupta (Senior Associate) advised on Banking & Finance aspects. Nainaaz Irani (Partner) and Clarissa D’lima (Associate) provided expertise on Real Estate aspects.
Shardul Amarchand Mangaldas & Co provided legal advice to Brookfield India Real Estate Trust on this transaction. Their involvement ensured that the legal framework was robust and aligned with the strategic objectives of Brookfield India REIT.
With this investment, 360 One Alternates now holds approximately 13.07% stake in Ecoworld SPV. However, Brookfield India REIT will continue to maintain full control over the board and management of Ecoworld SPV, ensuring that the strategic direction and operational efficiency of the company remain intact.
This transaction underscores the growing importance of strategic partnerships and investments in the real estate sector, particularly in India. It highlights the role of legal advisors in facilitating complex transactions and ensuring compliance with regulatory requirements. The involvement of reputable law firms like Veritas Legal and Shardul Amarchand Mangaldas & Co underscores the need for expert legal counsel in high-stakes business deals.
The deal is expected to bring significant benefits to both parties. For 360 ONE Alternates, it provides a strategic entry into a high-potential real estate project, while for Brookfield India REIT, it ensures a strong financial backing and the ability to continue its growth trajectory in the Indian real estate market.
In conclusion, this transaction is a testament to the dynamic nature of the Indian real estate market and the importance of strategic alliances in driving growth and innovation. The expert legal advice provided by Veritas Legal and Shardul Amarchand Mangaldas & Co has been instrumental in ensuring the smooth execution of this deal.
