Brookfield to buy Unitech Corporate Park subsidiary.

Canada-based global real estate giant Brookfield has offered to acquire Candor Investments, a fully-owned Unitech Corporate Parks (UCP) Plc subsidiary that owns stakes in real estate projects in the National Capital Region (NCR) and Kolkata.

According to an exclusivity agreement signed between Brookfield and UCP, an entity listed on the Alternative Investment Market of the London Stock Exchange (LSE), the transaction is to be concluded in 45 days. Candor Investments, through its subsidiaries, holds a 60 per cent stake in six properties, valued at Rs. 10,000 crore - two in Gurgaon, three in Noida and one in Kolkata - while the Unitech group owns rest of the equity.

BS