Brookfield real estate

A marchand Mangaldas, Slaughter and May and Isle of Man-based law firm Cains have teamed up to advise Indiabulls Real Estate on an offer for Dev Property Development (DPD). The offer values DPD at approximately US$276 million and will be implemented by way of an Isle of Man court approved scheme of arrangement under section 152 of the Isle of Man Companies Act, 1931.

Indiabulls Real Estate is one of the largest listed property companies in India. It is part of the Indiabulls Group, which has interests in financial services, capital markets, retail, power, real estate and infrastructure.

DPD is incorporated in the Isle of Man and admitted to the London Stock Exchange’s Alternative Investment Market (AIM). It focuses on investing in commercial and residential real estate projects in India.