As banks are unlikely to take a steep haircut on their Rs 10,300 crore exposure, an informal deal with Brookfield seems to be off the table
Scotland-based hotelier Narang, who owns popular restaurants such as Pizza by the Bay and Eat Around the Corner, besides hotel properties, The Gordon House and Rokeby Manor, has been looking to sell the asset at Sahar Road in Andheri East for the past seven to eight years.
Canadian investment firm Brookfield Asset Management is known for its unique contrarian philosophy
Brookfield, which has turned active in India, is well known for its differentiated contrarian strategy that earned it several multi-bagger investments
According to sources, the newly merged telecom giants are in talks with Brookfield and ATC for sale of its telecommunications infrastructure. While the companies are running separate sale processes, the assets could be sold to a single buyer to get better returns.
According to a media report, Brookfield was involved in initial stage talks with the power company to sell these plants of 4,000 MW. The deal could prescribe equity value at Rs 4,500-5,000 crore.
The renewable energy hungry Brookfield Asset Management is on the prowl again. The Canadian company is reportedly in discussions to buy operational wind energy assets of Morgan Stanley Infrastructure Partners-controlled Continuum Wind energy, reports Mint.
Speaking to CNBC-TV18, State Bank of India's Chairman Arundhati Bhattacharya said that the Essar deal will get the group's debt to move to another organisation and believed it was a good deal with Rosneft. â€œI am hoping it will help Essar Group to bring down leverage and stress they have in other accounts.â€
Global private equity firm Brookfield Asset Management, has signed an agreement with the Hiranandani Group to acquire its offices and retail space in Powai in Mumbai, for a whopping Rs 6,700 crores. Confirming the R
Confirming the development, sources from Hiranandani said discussions were on since quite some time and they will close the deal in the next few months.
State Bank of India tied up with Brookfield Asset Management to launch a distressed asset management fund. Or, simply put, a stressed asset fund. So, what are stressed asset funds, and, more importantly, why do banks need them? Read on.
Its total income increased to Rs 262.06 crore for the quarter under review as against Rs 253.07 in the corresponding period of the previous fiscal
This orders includes the construction of civil packages work for Brookfield Asset Management of Rs 154 crore and worth of Rs 66.47 crore for construction of Bennett University of Times of India.
A consortium composed of Brookfield and the Core Infrastructure India Fund Pte Ltd are buying the projects, six of which are operational, said Ambit Holdings, which advised Gammon on the deal.
GIPL said post the transaction the consolidated debt of the company will be reduced from Rs 3,947 crore to Rs 2,229 crore, which is expected to improve the gearing of company at consolidated level from more than 4 times to around 2 times going forward and make company net cash surplus.
The deal, the largest purchase of an Australian firm by an overseas entity since 2011 and the biggest acquisition by a Canadian firm in that country, underscores the huge international appetite for Australian infrastructure.
Mumbai-based real estate company Peninsula Land along with its partner Brookfield Asset Management is planning to raise Rs 750 crore through private equity funds.