InvestorQ : Do you see the recent deal with Blackstone being positive for Prestige Estates?
sara Kunju made post

Do you see the recent deal with Blackstone being positive for Prestige Estates?

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Mary Joseph answered.
1 month ago
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Global investment and trading house, CLSA, expects the Blackstone deal to be value accretive for Prestige Estates and it anticipates that the stock would get favourably re-rated on a stronger balance sheet. Its total debt will also reduce with more than Rs.7,400 crore of funds coming into the company from its realty deal with Blackstone. Prestige Estates has concluded phase one of its deal with Blackstone.

The deal entails transfer of annuity assets with EV of Rs.7,470 crore. This would be executed through the transfer of debt worth Rs.4,590 crore out of PEPL’s balance sheet and additional net proceeds of Rs.2,100 crore after taxes. This would bring down debt from Rs.8500 crore to Rs.1900 crore.

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