Canadian pension fund to invest $200 mn in realty JV with Shapoorji
The joint venture will invest in leased, income-producing office buildings, according to a joint statement by the companies issued on Thursday.<br /><br />
Canada Pension Plan Investment Board (CPPIB) plans to invest $200 million for an 80 percent stake in a joint venture with India's Shapoorji Pallonji Group to buy real estate assets in Asia's third-largest economy.
The joint venture will invest in leased, income-producing office buildings, according to a joint statement by the companies issued on Thursday.
With a turnover of $2.5 billion, Shapoorji's businesses include real estate development, construction, infrastructure, biofuels and agriculture, and shipping and logistics.
The Canadian pension fund had assets worth C$192.8 billion as on September 30, of which C$22 billion was invested in real estate.
Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply
NTPC is reportedly in talks with private power companies like L&T and Shapoorji Pallonji Group for taking over their stranded plants.
The Tata group and Mistry are currently fighting it out in the court after last year's bitter board room battle in which the latter was removed from the top post of the over $100-billion salt-to-software conglomerate.