Xansa Enters Into Pact With Alpha Tiger Ltd.

June 1, 2007	(Be the first to rate this story!)  Loading ...
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The known technology firm Xansa signed a deal with Alpha Tiger Property Trust Ltd. for sale and leaseback of the company’s interest to make investments in real estate in India for Rs 190.87 crore (about 35 million Euro).

Xansa has opted for Alpha Tiger as its preferred provider in India. The agreement signed is conditional on local and Central Government approvals, including Special Economic Zone (SEZ) notification. The company will take up the construction in phases.

The proceedings of the transaction which is expected to go up to 35 million euros before overhead expenses and taxes would be employed to reduce Group Net Debt.

Xansa envisages expanding its real estate portfolio in India and establishing a strategic relationship with a local real estate partner. This UK based company has a vast experience of 10 years to develop properties in India.

Such an outsourcing agreement with Alpha Tiger will offer an excellent solution to the company’s current and future real estate requirements in India, whereas freeing up capital and resource to focus on the further development of its core business, says Alistair Cox, Xansa Chief Executive.

News Published Under:   Real Estate Developers |

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