Suzlon Energy Ltd. has announced that it has signed a conveyance deed with OE Business Park Pvt. Ltd. to sell its corporate office, “One Earth Property,” for ₹440 crore. The deal includes ₹411.21 crore for the property and ₹28.79 crore for stamp duty and other registration charges. After the sale is completed, Suzlon will lease back the property for a five-year period, with the option to sub-lease or license it.
Suzlon has also signed agreements related to a “Call” option, allowing it to purchase securities issued by OE Business Park, and a “Put” option, giving holders the right to sell these securities at a pre-determined price. The transaction was approved by Suzlon’s shareholders at an Extraordinary General Meeting on March 25, 2022.
OE Business Park, which is incorporated as a Special Purpose Vehicle (SPV) in Worli, is managed by funds from 360 ONE Alternates Asset Management Ltd.
Suzlon Energy’s stock has performed strongly, tripling in value over the last 12 months, with a 207% gain. However, on Thursday, the shares ended slightly lower, closing at ₹74.16.
This strategic sale aligns with Suzlon’s efforts to streamline its operations while retaining access to its headquarters for the next five years.
Suzlon Energy Sells Corporate Office ‘One Earth Property’ for ₹440 Crore, Leases It Back for 5 Years
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