Indospace in race to buy Bangaluru-based Embassy Industrial Parks

Highlights :

Indospace in race to buy Bangaluru-based Embassy Industrial Parks, valued at ₹ 1,800 crore
PE fund Warburg Pincus owns 70% stake in Embassy Industrial Parks
Bangaluru-based Embassy Group owns the remaining 30%

Industrial and warehousing parks developer Indospace has emerged as the frontrunner to acquire Bangaluru-based Embassy Industrial Parks at an Enterprise value of ₹ 1,800 crore.

PE fund Warburg Pincus owns 70% stake in Embassy Industrial Parks while Bangaluru-based Embassy Group owns the remaining 30%.

ESR, a leading Asia Pacific logistics real estate platform, is another contender for the acquisition. Hongkong-based ESR has $22 billion of assets under management and is also backed by Warburg Pincus.

Embassy Industrial and warehousing development is spread across eight cities with 10 million sq ft of development completed and over 35 million sq ft of ongoing and planned development. These Industrial and warehousing solutions are targeted at Industry verticals like e-commerce, automobile ancillaries, FMCG and retails.

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