MUMBAI: Blackstone-backed K Raheja Corp has pipped South Korea’s Mirae Asset Global Investment in race to acquire Citibank India’s former headquarter at Mumbai Kurla Complex (BKC) for ₹395 crore, said two people aware of the development. “Citibank has finalised K Raheja Corp as the buyer for the 8-storey building and both parties have initiated documentation to conclude the sale," said the first person mentioned above. Mint reported on 2 July that Mumbai-based K Raheja Corp was in the race to buy the property even as Mirae Asset has emerged as the top bidder. The Seoul-headquartered firm which is also part of Mirae Asset Financial Group, has offered to buyout the asset for ₹413 crore. Spokespersons of K Raheja Corp and Citibank India have declined to comment.

Source: Mint July 03, 2019 20:02 UTC