GIC close to buying majority stake in ESR India for $400 million - BusinessLine

Singapore's sovereign wealth fund, GIC, is set to acquire a majority stake in ESR India, a logistics real estate platform, for around $400 million. ESR India is a joint venture between ESR and Allianz Real Estate with eight assets in India. GIC and ESR have an existing joint venture in India, and this acquisition would strengthen their partnership. The deal involves the sale of Allianz RE's stake and a portion of ESR's stake. Private equity firms, including Blackstone, are also interested in acquiring the assets.

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