Brookfield eyes RMZ Corp's Assets worth ₹12,000 crore across Chennai, Bengaluru

RMZ

Highlights :

Brookfield eyes RMZ Corp's Assets worth ₹12,000 crore across Chennai, Bengaluru
RMZ may use the proceeds of the transaction to reduce some of its debts of ₹13,500 crore
RMZ is one of the largest owners of office property in South India

Brookfield Asset Management is in advance talks with Bengaluru-based RMZ Corp to acquire 13.5 million sq ft of its ready and income producing commercial property for ₹12,000 crore.

Brookfield plans to buy these assets in cities including Bengaluru, Chennai and Gurgaon, in what would be one of the largest commercial reality deals in India.

RMZ may use the proceeds of the transaction to reduce some of its debts of ₹13,500 crore and invest in expansion. The company plans to become a zero-debt entity in the near term.

RMZ is one of the largest owners of office property in South India and completed leasing deals totalling 2.4 million sq ft with global entities including Walmart and Accenture in the past 6 months.

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