Embassy enters into strategic sale of its partial shareholding in Embassy Office Parks REIT, “Embassy REIT” to Bain Capital

New Delhi, March 3, 2023: Embassy Property Developments Pvt. Ltd., has entered into a strategic sale of a certain portion of its shareholding in Embassy Office Parks REIT (“Embassy REIT”) to Bain Capital, says a press release issued by the company.

As sponsor of Embassy REIT, it does not have any future plans to sell further ownership in the REIT.  Over the next few months, Embassy Group will monetize certain other assets to additionally ease debt levels and strengthen its balance sheet.  It has also had sales in excess of Rs 1100 crores in this fiscal year to help towards debt repayment.