Joint Venture19 Sept 2024, 03:05 am
Macrotech Developers Acquires Ivanhoe's Interest in Digital Infrastructure Platform Entities for 239.56 Crore
AI Summary
Macrotech Developers Ltd has executed Securities Purchase Agreements (SPAs) with Ivanhoe Warehousing India Inc. for the acquisition of their interest in the Digital Infrastructure Platform entities, namely Bellissimo Digital Infrastructure Development Management Private Limited, Palava Induslogic 4 Private Limited, and Bellissimo In City FC Mumbai 1 Private Limited. The total consideration for the acquisition is 239.56 crore, subject to certain closing conditions. Post-acquisition, Macrotech Developers' interest in these entities will increase to 70%, 66.67%, and 66.67%, respectively.
Key Highlights
- Macrotech Developers to acquire Ivanhoe's interest in Digital Infrastructure Platform entities for 239.56 crore
- The acquisition includes Bellissimo Digital Infrastructure Development Management Private Limited, Palava Induslogic 4 Private Limited, and Bellissimo In City FC Mumbai 1 Private Limited
- Post-acquisition, Macrotech Developers' interest in these entities will increase to 70%, 66.67%, and 66.67%, respectively
- The acquisition is in line with Macrotech Developers' strategy for calibrated growth in Digital Infrastructure
- No regulatory approvals are required for the acquisition