SAM & Co advises on Red Fort India Real Estate HoldCo I’s exit from Exora Business Parks

In a deal worth more than Rs600 crore ($90 million), Shardul Amarchand Mangaldas & Co (SAM & Co) advised Red Fort India Real Estate HoldCo I, a fund managed by Red Fort Capital, on the exit from its investment in Exora Business Parks.

The SAM & Co team was led by partner Jatin Aneja and also included partner VR Neelakantan, principal associate Siddhartha Sen and senior associate Varun Nair. The team worked on all legal aspects of the deal including structuring, drafting, negotiating and finalisation of the transaction documents, and assisting in completion of closing-related formalities.

As a part of the transaction, Red Fort India Real Estate HoldCo I agreed to transfer its entire shareholding in Exora Business Parks to Valdel Extent Outsourcing Solutions, a subsidiary of Prestige Estates and Projects, the promoters of the business parks.

The deal was signed on December 22 2015. The first tranche was completed the following day and the remaining parts are expected to be completed by June this year.

Cyril Amarchand Mangaldas was the legal adviser to Exora Business Parks, Prestige Estates and Projects, and Valdel Extent Outsourcing Solutions.