Prestige Estates surges 7% amid report Blackstone may acquire group assets

Shares of Prestige Estate Projects surged 6.7 per cent to Rs 240 apiece on the BSE on Monday amid reports that US private equity giant Blackstone Group is set to acquire Prestige Group’s rental income assets for more than $1.7 billion — around Rs 12,745 crore — in the largest real estate portfolio buyout in India.
At 10:02 am, the stock was quoting Rs 231 per share, up 3 per cent on the BSE, as against 311 points, or 0.83 per cent, rally in the benchmark S&P BSE Sensex.
“The transaction …

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