Blackstone-owned Nexus, Prestige in talks to merge mall business

Blackstone-owned Nexus, Prestige in talks to merge mall business
02/11/2019 , by , in News/Views

Blackstone-owned Nexus Malls and Bengaluru-based Prestige Group are in initial talks to merge their mall businesses, said two people with knowledge of the matter, in a sign of consolidation in India’s competitive shopping-centre space.

If the talks fructify, it will create the largest mall operator in the country and the people said the combined entity could be listed as a real estate investment trust (REIT) as part of the plans.

Blackstone-backed Embassy Office Park REIT earlier this year listed its units, which jumped 35% on the first day. Embassy Office Park is the first REIT in India to make an initial public offering and so far the only one listed on the National Stock Exchange.

About Realty Plus

Loading...