A major shareholder of South City Projects, the consortium behind Kolkata's iconic South City Mall, has downplayed recent reports of a potential USD 400 million deal with alternative asset manager Blackstone, describing it as "speculative".
South City Projects is a consortium of prominent real estate developers like Merlin Group, Sureka Group, Emami Group, Park Chambers Group, and Shrachi Group.
"It has been receiving offers from various funds, including Blackstone, Brookfield, Canadian Pension Fund, and Singapore's Temasek since 2020," a significant consortium partner who wished not to be quoted told PTI.
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