Actis Leaves Residential Real Estate Business Partnership with Indian Property Developer
Actis, a global investment firm renowned for its investments in energy, digital infrastructure, and industrial development, has announced its exit from a residential real estate joint venture with an unnamed Mumbai-listed realtor. The exact timing of this exit and the specific details about the investments made by Actis in the joint venture were not disclosed in the statement issued by the firm.
The statement did not elaborate on the potential impact of Actis' exit on the residential real estate market. Actis also did not mention the reason for exiting the joint venture. However, there is speculation that the firm could be making a profit by selling its stake to PE-backed Ugro Capital.
Meanwhile, other companies are making moves in the Mergers and Acquisitions (M&A) landscape. Amber Group, Rainbow Hospitals, Mahindra Lifespaces, and Asian Paints have all entered into M&A deals.
Elsewhere, Macquarie is attempting to sell Vibrant Energy, with new suitors and previous bidders lining up for the transaction. In a separate development, Peak XV and Madison are eyeing potential multibagger returns as Pine Labs files for an Initial Public Offering (IPO).
It's important to note that Tata Power, BluPine, and ICICI Prudential AMC were not mentioned as being involved in this specific transaction.
As Actis continues to focus on sustainable infrastructure and real estate across emerging markets, this exit marks a significant shift in its portfolio. The identity of the Mumbai-listed realtor with whom Actis had the joint venture remains undisclosed.
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