Brief: Indiabulls Real Estate Approves Proposal Of Merger Of Certain Projects Of Embassy Property Developments With Co

Embassy Developments

31/01/2020 09:18

Jan 31 (Reuters) - Indiabulls Real Estate Ltd  INRL.NS :
    * INDIABULLS REAL ESTATE -APPROVED PROPOSAL OF MERGER OF
CERTAIN
ONGOING, RESIDENTIAL & COMMERCIAL PROJECTS OF EMBASSY PROPERTY
DEVELOPMENTS WITH IBREL
    * INDIABULLS REAL ESTATE LTD -CONSIDERED PROPOSAL OF
REORGANISATION OF COMPANY'S BUSINESS
    * INDIABULLS REAL ESTATE LTD SAYS  MERGED IBREL WILL BE
DEVELOPMENT ARM FOR BOTH COMMERCIAL AND RESIDENTIAL ASSETS.
    * INDIABULLS REAL ESTATE - EMBASSY PROPERTY DEVELOPMENTS IS
IN
DISCUSSIONS WITH FINANCIAL INVESTORS LIKE BLACKSTONE TO RAISE
UPTO $200 MLN BEFORE MERGER
    * INDIABULLS REAL ESTATE -UNDER PROPOSED MERGER, CERTAIN
PROJECTS
OF EMBASSY SHALL STAND TRANSFERRED TO IBREL
    * INDIABULLS REAL ESTATE LTD -EQUITY INVESTMENT OF $200
MILLION
WILL BRING SIGNIFICANT CASH IN MERGED IBREL FOR EXPANDING ITS
BUSINESS OPERATIONS
    * INDIABULLS REAL ESTATE - BOARD HAS CONSTITUTED A
REORGANIZATION
COMMITTEE TO EXAMINE & EVALUATE OPTIONS TO IMPLEMENT MERGER
PROPOSAL

Source text: (http://bit.ly/2GDQu18)
Further company coverage:  INRL.NS 

 ((Reuters.Briefs@thomsonreuters.com;))