New Delhi, March 14 -- New York-based investment giant Blackstone Inc. will acquire a 40 per cent stakeholding in Kolte-Patil Developers Limited, an Indian real-estate firm, for a value of Rs.1,167.03 crore, according to an exchange filing. This transaction will trigger an open offer for Blackstone to purchase the shares from the existing promoter shareholders.

According to the BSE filing, the realty firm will allocate 14.29 per cent preferential shares to the investment giant, a deal worth Rs.417.03 crore for the issuance of 1,26,75,685 or 1.26 crore shares.

The other existing shareholders of Kolte-Patil Developers will also sell a 25.71 per cent stake of the firm to the US-based investment firm in exchange for Rs.750 crore, a deal inv...