Khaitan & Co advised Brookfield Asset Management in its recent US$2.1 billion acquisition of certain real estate assets of the RMZ Group.
One of India’s largest real estate deals in recent times received approval from India’s anti-trust regulator on 29 September. It was signed on 18 October and is yet to close.
Khaitan & Co’s corporate team advising on the deal comprised: partners Aakash Choubey, Aashutosh Sampat and Sanjay Khan Nagra; principal associate Aishwarya Nagpal, and senior associates Abir Sarkar and Soumil Garg.
Others partners advising on the deal along with their teams include: Mehul Shah (corporate restructuring); Anisha Chand (competition law); Harsh Parikh, Sudheer Madamaiah and Abhiraj Gandhi (real estate); Siddharth Srivastava (banking and finance); and Shailendra Bhandare (intellectual property). Dinesh Kumar Agrawal and Vinita Krishnan provided both indirect and direct tax advice.
AZB & Partners’ team comprised partners Sai Krishna Bharathan, Shivani Kabra, Kunal Kumbhat and Hemangini Dadwal, and associates Sampriti Sridhar and Akshat Kulshrestha.
The real estate assets acquired as part of this deal amounted to 12.5 million square feet of commercial assets that were part of projects housed within five entities of the privately-held RMZ Group – RMZ Infotech, RMZ Ecoworld Infrastructure, RMZ Azure Projects, RMZ North Star Projects and RMZ Galleria (India). RMZ, which also sold its stake in CoWrks India to Brookfield as part of the deal, said it would have zero debt as a result of the sale.