Shearman & Sterling Advises Xander On Joint Venture With APG To Invest USD450m In Retail Assets

Legal News & Analysis - Asia Pacific - Corporate/M&A

8 November, 2016


Shearman & Sterling advised The Xander Group Inc. (Xander) on the establishment of a joint venture with APG Strategic Real Estate Pool N.V. (APG) for investment in retail developments in India and the related US$300 million acquisition by the joint venture company Virtuous Retail South Asia Pte. Ltd. (Virtuous Retail) of an initial portfolio of three retail assets from a Xander sponsored fund.
APG and Xander have also committed an additional US$150 million, which will be used to expand the investment portfolio of Virtuous Retail.
Xander is a global investment firm focused on real estate, infrastructure, hospitality, retail and credit in emerging markets. Since 2005, the firm has committed over US$ 2.3 billion of capital to the Indian market across private, public, credit and venture investments.
The Shearman & Sterling team included partner Sidharth Bhasin (Singapore-Mergers & Acquisitions); associates Nick Withers (London-Mergers & Acquisitions) and Matthew Sherman (Singapore-Mergers & Acquisitions) and trainee solicitors Camilla Bunney (London-Finance) and Andrea Calla (London-Mergers & Acquisitions).