India's Embassy Office Parks REIT falls on Blackstone's plans to exit

Embassy Office Parks REIT

20/12/2023 04:11

** Shares of India's largest real estate investment trust
Embassy Office Parks  EMBA.NS  drops 4.7% to 320 rupees 
    ** Decline after term sheet seen by Reuters shows Blackstone
 BX.N  will sell its entire 23.59% stake worth $833 million in
EMBA via block deals in the secondary market
    ** More than 3.6 mln shares traded, 5.3x the 30-day avg
volume 
    ** EMBA last down 2.6%, taking YTD losses to ~3% 

    

 (Reporting by Rama Venkat)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))