Deal Closed | Brookfield Asset Management | Acquisition of RMZ Corp portfolio

The details of the deal are as under

Sector: Real Estate

Announcement Date: 20-Oct-2020

Name of Client: Brookfield Asset Management

Acquirer Details: Brookfield Asset Management | Canada 

Brookfield Asset Management Inc. is an alternative asset management company focusing on real estate renewable power

infrastructure and private equity.

Deal Description: Khaitan and Coacted as the legal counsel to Brookfield Asset Management on its acquisition of select assets of the RMZ Group, equivalent to 12.5 million square feet of office and co-working assets, having a total enterprise value of USD 2.1 billion. This is the largest-ever deal in the Indian real estate industry. 

Total Consideration: USD 2.1 billion

Team Members: The transaction was led by Corporate Partners, Aakash Choubey, Aashutosh Sampat, Sanjay Khan Nagra, Principal Associate, Aishwarya Nagpal, and Senior Associates, Abir Sarkar and Soumil Garg. 

Several other practices were involved led by Mehul Shah (Partner, Corporate Restructuring), Anisha Chand (Partner, Competition Law), Harsh Parikh, Sudheer Madamaiah and Abhiraj Gandhi (Partners, Real Estate), Siddharth Srivastava (Partner, Banking and Finance), Shailendra Bhandare (Partner, Intellectual Property), Dinesh Kumar Agrawal (Executive Director, Indirect Tax), and Vinita Krishnan (Director, Direct Tax) and their respective teams.

Role of Firm: Khaitan and Co acted as the legal counsel to Brookfield Asset Management.

Other legal advisors: Diligence counsel Cyril Amarchand Mangaldas and AZB & Partners - Legal counsels to the Target

Unique Feature of Transaction: Largest-ever deal in the Indian real estate industry