US firm Blackstone plans to sell a $400 million stake in Embassy Office Parks, India's largest real estate investment fund, through syndicated deals on the Indian Stock Exchange.
According to Reuters, the Abu Dhabi Investment Authority, one of the largest sovereign funds in the world, is likely to acquire at least half of the stake that will be sold by Blackstone.
Embassy Office Parks, which in 2019 became India's first publicly listed real estate investment trust, also owns and manages a portfolio of more than 42 million square feet of office complexes and offices in cities such as Bengaluru and Mumbai.
In the planned combined deals on Indian exchanges next week, Blackstone will sell a stake worth between $300 million and $400 million, the sources said.
