Blackstone has acquired a 40% stake and joint control in Kolte-Patil Developers via BREP Asia III India for approximately ₹1,925 crore, through preferential allotment, secondary purchase and a mandatory open offer.
Khaitan & Co advised Blackstone on this acquisition deal.
The core team consisted of Shishir Jose Vayttaden (Partner), Abhishek Dadoo (Partner), Aditi Singhvi (Partner), Jayantika Khanna (Principal Associate) and Suyashi Mishra (Associate) with assistance from the following:
Real estate related aspects: Harsh Parikh (Partner), Abhiraj Gandhi (Partner), Anirudh Jakhotia (Senior Associate), Ekta Sawant (Senior Associate), Deepesh Pillai (Associate) and Snehil Singhvi (Associate);
Open offer and securities law related aspects: Abhishek Dadoo (Partner), Shashank Patil (Counsel), Jayantika Khanna (Principal Associate), Vritika Lakhwani (Associate) and Niyati Karia (Associate)
Diligence related aspects: Shweta Sriram (Principal Associate), Surbhi Ajitsaria (Principal Associate), Amanee Kadakia (Senior Associate), Kashish Mahajan (Senior Associate), Gitika Lahiri (Associate), Tawishi Beria (Associate) and Chelsea Sawlani (Associate);
Merger control related aspects: Anisha Chand (Partner), Soham Banerjee (Principal Associate) and Nilav Banerjee (Senior Associate);
Employment related aspects: Deepak Kumar (Partner) and Deeksha Malik (Principal Associate);
Data privacy related aspects: Supratim Chakraborty (Partner), Shramana Dwibedi (Senior Associate) and Mayank Barman (Associate);
Intellectual property related aspects: Nirupam Lodha (Partner), Shivangi Narang (Principal Associate) and Gautam Wadhwa (Senior Associate).
ThinkLaw advised Kolte-Patil Developers with a team led by Tushar Ajinkya (Managing Partner).
Kolte-Patil Developers is a leading real estate company in India, known for its residential, commercial, and township projects. Headquartered in Pune, the company has a strong presence in key markets like Mumbai, Pune, and Bengaluru. With over three decades of experience, Kolte-Patil is recognized for its commitment to quality, innovation, and sustainable development.
This transaction is Blackstone’s first substantive foray into the residential real estate sector in India.
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