Khaitan & Co advised Nexus Select Trust (acting through its Manager, Nexus Select Mall Management Pvt Limited) (“Nexus”) on the proposed acquisition of 100% of the share capital of Galaxy Infra Creations Pvt Ltd which owns: (a) a 0.5 million square feet Grade-A mall; and (b) a 164 key Hyatt Regency Hotel, each of which are currently under construction in Guwahati, for a purchase consideration of ~INR 1600 Crores, from its existing shareholders Deepak Kayal, Manoj Kayal and others..
This transaction marks Nexus’ strategic entry into Northeast India, becoming its first under-construction development deal in Northeast India and second such deal since listing.
Nexus is India’s first publicly listed retail real estate investment trust (REIT), owning and operating a portfolio of premium shopping malls across major Indian cities., and is India’s largest owner of Grade-A urban consumption centres.
Galaxy is in the owner, developer and operator of: (i) retail mall in Guwahati, India, by the name ‘Galaxy Mall’; and (ii) a hotel in Guwahati, India, by the name Hyatt Regency Hotel.
The deal team was assisted by the following:
Corporate & Commercial: Prachi Chowdhary (Associate), Ishika Sinha (Associate) and Unnati Khanna (Associate)
Capital Markets: Aayush Mohata (Partner), Aparna Bagree (Partner)
Banking & Finance: Rahul Chakraborti (Partner), Riya Agicha (Counsel)
Employment Labour & Benefits: Deepak Kumar (Partner), Varsha Sankara Raman (Senior Associate)
ABAC diligence: Vinay Joy (Partner), Shaaryl Dsouza (Associate)
The core team comprised of Shourya Sengupta (Partner), Sneh Lata (Counsel), Deepak Jodhani (Partner), Gaurav Dasgupta (Partner), Divyansh Joshi (Principal Associate), Vibhav Seth (Principal Associate), Shreetama Chakraborty (Principal Associate), Susom Chattopadhyay (Senior Associate) and Richaa Mukhopadhyay (Senior Associate).
Corporate and M&A: Haigreve Khaitan (Senior Partner)