Blackstone-backed Reit faces potential roadblock to India listing: sources
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Mumbai
EMBASSY Group, an Indian partner of Blackstone Group LP, is facing a potential roadblock to its listing of the nation's first real estate investment trust amid disputes with investors in two of its properties, people with knowledge of the matter said.
Embassy Group has been planning to seek about US$600 million listing a trust backed by properties including Embassy GolfLinks and Embassy Manyata Business Park, which count Rolls Royce Holdings Plc and Microsoft Corp as tenants, the people said. Kelachandra Group and Manyata Group oppose the inclusion of the two Bengaluru office parks in the Reit, according to the people, who asked not to be identified because the information is private.
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