India: Blackstone in talks to acquire Adani’s BKC property for $270m

Blackstone Group LP is in talks to acquire Adani Realty’s commercial office project at Mumbai’s Bandra Kurla Complex (BKC) for around ₹1,900 crore, said two people aware of the matter. The private equity firm stepped in after Shapoorji Pallonji Investment Advisors Pvt. Ltd backed out from buying the 10-storey building in Mumbai’s latest financial district, said the two people cited above. The investment arm of the Shapoorji Pallonji Group was the frontrunner for the deal and even completed a due diligence of the property, they said.