Canadian investment firm Brookfield Asset Management Inc has acquired the headquarters of IL&FS (Infrastructure Leasing and Financial Services) at Mumbai’s BKC for Rs 1,080 crore (around $143 million). The Letter of Intent given to Brookfield and the asset will be handed over later this year, the company said on Tuesday.
During a press conference, IL&FS said it has managed to resolve Rs 55,000 crore debt overall by 31 March, 2022. Its total debt was Rs 99,355 crore across 347 entities when the new board took over in 2018. The IL&FS headquarter is located in Mumbai’s Bandra Kurla Complex known as the city’s suburban premium commercial space.
Brookfield has been operating in India for over 11 years and currently manages $20.6 billion in assets across infrastructure, real estate, and renewable energy. Recently, the investor agreed to pick up a minority stake in the packaging films business from Jindal Poly Films Limited (JPFL) for Rs 2,000 crore (around $263 million).
Read more: VCCircle
