Blackstone to buy Mumbai’s iconic Express Towers with Panchshil Realty for Rs 900 crore

Posted on Nov 20 2013 - 4:43pm by IBC News

MUMBAI: Express Towers, an iconic commercial building in South Mumbai’s Nariman Point, is all set to get a new owner.

Ending months of negotiations, bulge-bracket American PE fund Blackstone together with one of its portfolio companies, Pune-based developer Panchshil Realty, is buying out the current owners – the Indian Express Group and ICICI Venture, the PE arm of India’s largest private sector lender – for Rs 900 crore, said multiple people involved in the ongoing negotiations.


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