Sureka-Merlin-JB Group consortium acquires Keppel Magus

 Marking a significant development in West Bengal’s real estate industry, more so in eastern region of the country, Sureka Group, Merlin Group and JB Group announced its consortium-led acquisition of Keppel Magus Development Pvt. Ltd. (KMD).
With an investment of over Rs 150 cr with the deal signed on 2nd July, the consortium has attained a 100 per cent shareholding at KMD, thus taking over total ownership control in the company and its operations in its up-market 25 – acre project Elita Garden Vista in New Town, Kolkata.
KMD was previously held by Keppel Land of Singapore, Magus Estates & Hotels Ltd – subsidiary of Asian Hotels (North) Ltd of the Jatia Group, owner of Hyatt Regency in New Delhi and Four Season Resorts in Goa and Puravankara Group from Bangalore.

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