Saturday, Jan 25, 2020


India  Goldman Sachs Exits From Vatika Group


Goldman Sachs has exited its investment in Vatika Group, a Delhi-based realty firm by selling its stake to the promoters of the group.ET states, that the settlement has been reached between the two parties and the exit will be in two parts - a part in cash and another as stake in a project of Vatika.In 2007, Vatika Group had divested 10.75% for raising $250 Mn (R1000 Cr) as PE investments from Wachovia Bank, Baer Capital and Goldman Sachs and were to get an exit through an IPO by the end of 2010. Promoted by Anil Bhalla, Vatika Group is engaged in real estate development, including commercial, residential and hospitality sectors and operates primarily through Vatika Limited and Vatika Hotels Private Limited.Vatika has housing projects in Gurgaon, Delhi and Jaipur and also develops commercial office and retail spaces in Gurgaon. The company also has a hospitality vertical, which has hotels like The Westin in Gurgaon, Jaipur and Pondicherry and is developing a Four Points by Sheraton in Gurgaon.Goldman Sachs was also planning to exit its investment in upcoming 230 rooms Four Seasons Hotels in Bangalore; Xander group and Nitesh Estates were in talks to acquire its stake. Goldman holds around 73% stake through Whitehall, its real estate unit, in the project. Other development partners are Westcourt and Century Real Estate holding the remaining 27%.Yesterday, Goldman Sachs announced its R110 Cr equity investment in BPL Medical Technologies. Last week, it acquired a $110 million stake in cable distribution company DEN Networks. In August last year, it invested $54 Mn in Indian surgical care and fertility clinics company Nova Medical Centers.

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