Corporate News 01-Mar-22
Prestige Estates Projects to sell 51% stake in Prestige RMZ Star Tech
To an affiliate of Canada Pension Plan Investment Board
Prestige Estates Projects has signed definitive documents with CPP Investment Board Private Holdings (4) Inc., an affiliate of Canada Pension Plan Investment Board for investing in, and/ or acquiring entire 51% of the rights and interest held by the Company in Prestige RMZ Star Tech (target asset), a commercial project located at Koramangala Industrial Area, Bengaluru. The total enterprise value forming part of the aforesaid transactions is approximately Rs 1900 crore.
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