Macrotech Developers to acquire stake in three Ivanhoe entities for Rs 239.56 crore, ET RealEstate
NEW DELHI: Macrotech Developers has executed securities purchase agreements with Ivanhoe Warehousing India (Ivanhoe) for acquisition of their interest in the digital infrastructure platform entities Bellissimo Digital Infrastructure Development Management, Palava Induslogic 4 and Bellissimo In City FC Mumbai 1, in entirety at a consideration of Rs 239.56 crore.
The company will acquire 10% equity stake and other securities in Bellissimo Digital Infrastructure Development Management for Rs 14.77 crore, 33.33% equity stake and other securities in Palava Induslogic 4 for Rs 142.52 crore and 33.33% equity stake and other securities in Bellissimo In City FC Mumbai 1 for Rs 82.27 crore.
This would increase its interest in the above mentioned companies to 70%, 66.67% and 66.67% respectively.
In August 2024, the company had executed share purchase agreements for acquisition of 100% stake in Opexefi Services for 46.67 crore and One Box Warehouse for Rs 49.09 crore, pursuant to which Opexefi and One Box will become wholly-owned subsidiaries of the company.
