March 26, 2018 / 4:13 AM / 4 months ago

BUZZ-Indiabulls Real Estate rises on divestment deal with Blackstone

** Shares of Indiabulls Real Estate Ltd rise as much as 3.8 pct to 199.80 rupees

** Company's units to divest 50 pct stake here in Indiabulls Properties, Indiabulls Real Estate Co Pvt Ltd to entities controlled by Blackstone Group LP at enterprise value of about $1.46 bln, exchange filing on Friday showed

** Part of sale proceeds to be used for repaying debts, INRL said

** Deal marks major strategic step in helping INRL de-lever development business while creating long-term growth platform for office business - CLSA analysts in note

** Up to Friday’s close, stock had fallen 13.8 pct this year

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