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SAM, CAM on Red Fort's $90m exit from Silver Oak villas owner

Shardul Amarchand Mangaldas advised Red Fort India Real Estate on its Rs 600 crore ($89m) exit from Exora Business Parks, selling its stake to Valdel Extent Outsourcing Solutions which was advised by Cyril Amarchand Mangaldas. CAM also advised Exora and the promoter Prestige Estate Projects

SAM Delhi partners Jatin Aneja and VR Neelakantan, principal associate Siddhartha Sen and senior associate Varun Nair acted for Red Fort India is a fund managed by Red Fort Capital.

CAM Bangalore partner Nagavalli Gopalakrishna acted for Valdel, Exora and Prestige.

Prestige Estates, through its subsidiary Valdel, bought 62.54 per cent of Red Fort’s stake in the special purpose vehicle (SPV) Exora that owns the villa project Silver Oak, reported the Times of India adding that Rs 250 crore worth residential stock was also part of the buyout.

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