Burman GSC, a joint venture between the Burman Group, promoters of home-grown FMCG company Dabur, and real estate private equity fund Golden State Capital (GSC), has bought out Ascendas India’s 51% stake in SEZ OneHub, located in Gurgaon, in a deal valued at around Rs 300 crore.
Sources told TOI that Ascendas wanted to exit the project and Burman GSC saw it as an opportunity to grow its presence in the commercial real estate space through a project where 6 lakh square feet is already completed. Now, Burman GSC plans to develop it independently. Burman GSC and Singapore-based IT park specialist Ascendas had a 49:51 joint venture for the project, which is spread across 63 acres on Sohna Road. The buyback was funded by promoter equity.
Read more: Economic Times