Marathon Nextgen Realty to buy Adani Group's 60 pc stake in Mumbai project for Rs 335 crore
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- ✓Marathon Nextgen Realty will buy Adani Group's 60 per cent stake in the Mumbai project 'Monte South' for Rs 335 crore.
- ✓In a regulatory filing on Saturday, the company said its Board has "approved the acquisition of Adani Group's 60 per cent stake in 'Monte South' for a consideration of approximately Rs 335 crore".
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Synopsis
In a regulatory filing on Saturday, the company said its Board has "approved the acquisition of Adani Group's 60 per cent stake in 'Monte South' for a consideration of approximately Rs 335 crore".
New Delhi: Marathon Nextgen Realty Ltd will acquire Adani Group's 60 per cent stake in a mixed use project in Mumbai for Rs 335 crore, taking full control of the premium real estate asset.
In a regulatory filing on Saturday, the company said its Board has "approved the acquisition of Adani Group's 60 per cent stake in 'Monte South' for a consideration of approximately Rs 335 crore".
Upon completion of the transaction, Marathon's stake in the development will increase from 40 per cent to 100 per cent, giving it full ownership and control of the project at Byculla in Mumbai.
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The Economic Times
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