Deal Closed | The Phoenix Mills Limited | Block Sale

Promoters of Mall developer Phoenix Mills sell stake worth INR 833 crore.

Details of the deal are as under:

Sector: Real Estate

Announcement Date:  24 August 2020 

Completion Date: 27 August 2020  

Name of Client: CLSA India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, Kotak Mahindra Capital Company Limited and UBS Securities India Private Limited 

Deal Description: Advised the Brokers i.e. CLSA India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, Kotak Mahindra Capital Company Limited and UBS Securities India Private Limited in relation to all aspects of the sale of shares held by the Sellers i.e. Radhakrishna Ramnarain Private Limited and Senior Advisory Services Private Limited  in The Phoenix Mills Limited, aggregating up to INR 833.19 crore (USD 115.89 million), through a block deal on the stock exchange trading platform

Role of Khaitan & Co: Indian legal counsel to the Brokers  

Total Consideration: INR 833.19 crore (USD 115.89 million)

Team Members: Subhayu Sen (Partner) and Chirayu Chandani (Counsel)

Other legal advisors: Sidley Austin LLP, special United States counsel to the Brokers