CapitaLand India Trust to acquire IT park in Pune
By MYBRANDBOOK
CapitaLand India Trust (CLINT) has agreed to buy an IT park in Pune for Rs 1,350 crore. The agreements were executed between the Ecospace IT Park and each of the shareholders of Ascendas IT Park (Pune) Pvt Ltd, that owns this IT Park.
CapitaLand India Trust has entered into definitive agreements for the proposed acquisition through its wholly-owned subsidiary Ecospace IT Park Pvt Ltd of International Tech Park Pune. CapitaLand India Trust Management Pte Ltd is the Trustee-Manager of CapitaLand India Trust.
The IT Park is an IT SEZ with a total floor area of about 2.3 million square feet spread across four buildings. The asset is almost 100 percent leased to IT/ITeS tenants, such as Infosys, Synechron Technologies and Tata Consultancy Services Ltd.
CapitaLand Investment and its joint venture partner Maharashtra Industrial Development Corporation have entered into separate agreements with CapitaLand India Trust to divest their respective 78.5 percent and 21.5 percent shareholding in the Ascendas IT Park (Pune), providing CapitaLand India Trust the ability to create further scale in its portfolio in India and deepens its presence in Pune.
Sanjeev Dasgupta, Chief Executive Officer of the Trustee-Manager said, “The marquee tenant profile with a high level of occupancy will add substantial scale to the CLINT portfolio.”
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