Agre Properties & Services Limited, subsidiary of Agre Developers Limited has sold its 20% stake in Gupta Infrastructure (India) Private Limited for R29.87Cr. The name of the buyer was not disclosed.
The share purchase agreement provided for refund of R11.66Cr of share application money to the company to be paid in tranches during a period of March 03, 2012 to May 31, 2012.
Under the Demerger scheme in 2010, Agre Properties and Services had acquired 20 % in Gupta Infrastructure (India) with an intention to sell in the near future.
Gupta Infrastructure is a Gupta Group company founded by Mahadev Prasadjee Gupta. Gupta Group has its presence across coal, infrastructure, power, mining and logistics segments.
Gupta Group through its JV company Gupta Infrastructure is also coming-up with Mega Shopping Mall cum Multiplex at Raipur in Chhattisgarh under the name - City Centre. The group under its Infrastructure division has developed six storeyed Mall at Civil lines, under the name Gupta Tower through its operating company - Gupta Infratec Pvt. Ltd. The Mega Mall is being operated by Pantaloon Retail (India) Ltd.
Agre Developers is the mall management arm of Future Group.
Agre Developers was a Pantaloon group company where there was a scheme arrangement wherein the mall management and mall development business of Pantaloon Retail was demerged and put into a separate company called Agre Developers, while the mall asset management and food services business undertakings were demerged into Agre Properties and Services.
The company also has presence in infra logistics and wholesale market segment. Agre aims to setup 6 Infra-logistics parks on 100 acres of land each, across the country.
As for the wholesale segment, Agre wants to build markets along the lines of the Dragon Market in Dubai and Yiwu in China.
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4134
3846
945
4260
973
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17649
42
1677
25526
3005
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1369
459
3151
32715
140
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24632
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 22/02/12 |
Gupta Infrastructure - Agre Properties (Exit) |
M&A |
|
6.07 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 18/05/12 |
Private Equity |
Panchshil Real Estate Consultants Private Limited |
EON SEZ |
- |
Completed |
| 18/05/12 |
M&A |
Godrej Properties Limited |
Bangalore Land |
18.25 |
Planned |
| 18/05/12 |
Private Equity |
Panchshil Real Estate Consultants Private Limited |
Hadapsar Project |
- |
Completed |
| 18/05/12 |
M&A |
Looking For |
Mumbai Land |
529.20 |
Planned |
Company |
| Name | Promoters | Office | Competitor | Website |
| Agre Properties & Services Limited |
Kishore Biyani |
Knowledge House, Off. Shyam Nagar, Jogesheari Vikhroli Link Road, Jogeshwari (East) |
|
www.futuregroup.in/adl.asp |
| Gupta Infrastructure India Private Limited |
The Gupta Group |
Gupta Towers, 5th Floor, Temple Road, Opp. Science College Ground, Civil lines |
|
www.guptacoal.com |
