Gautam Adani’s realty unit is in cutting edge converses with take over overwhelmed Indian engineer Ozone Group at an endeavor worth of about $1 billion, as per individuals acquainted with the matter.
Adani Realty Ltd. is trying to assume control over the Bengaluru-based Ozone, which has an extraordinary obligation of in excess of 60 billion rupees ($790 million), one individuals said, asking not to be named as the data isn’t public.
Ozone has progressing projects in Mumbai, Bengaluru and Chennai, as indicated by data accessible on its site. A representative for Adani bunch declined to remark while Ozone bunch delegates didn’t answer an email looking for remarks.
As a component of this exchange, Adani’s 10-year-old designer arm will be assuming control over the obligation of Ozone which has been attempting to reimburse leasers. Ozone has conveyed 13.5 million square feet of land projects up to this point and has 48 million square feet in different progressive phases, it said on its site.