The PE real estate arm of Godrej Group, Godrej Fund Management is set to enter into an agreement with US-based private equity firm New Vernon Capital to buy its IT park at Thane for an estimated Rs 400 crores (around $62.5m), as reported by The Economic Times. The deal shall be concluded through 100% acquisition of the share capital by Eranthus Developers, a group company of Godrej Fund Management.

AZB & Partners advised The Godrej Group in the transaction and were led by partners Sai Krishna Bharathan and Monika Bhonsale along with senior associate Shivani Kabra.

Shardul Amarchand Mangaldas acted as the legal advisors for New Vernon Capital.

It was also reported that the deal is said to have entered into its last lap with the final leg of due diligence taking place and that it is expected to be closed soon.

2018-01-04

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