Mauritius fund offers $1.67 billion for Sahara’s Aamby Valley

A Mauritius-based investor, Royale Partners Investment Fund has offered to invest $1.67 billion in embattled Sahara group’s Aamby Valley project, located between Mumbai and Pune in Maharashtra. Sahara group pegs the market valuation of this project at over Rs 1 trillion.

Royale Partners Investment Fund Limited, registered in Mauritius as a global business company, is owned by Dubai- headquartered RPMG Investment which is into investment management, private equity, asset management and proprietary trading. Replying to emailed queries about its proposed deal with Sahara group, RPMG Investment told the Indian press that, “As deposed by Sahara before the Supreme Court of India, Royale Partners Investment Fund Ltd and its Limited Partners have agreed to invest $ 1.67 billion in the Aamby Valley Project. It, however, declined to share further details, saying the deal terms are confidential.

Sahara’s advocate Gautam Awasthi, meanwhile, said in a statement that the group had moved an application before the Supreme Court seeking permission for entering into an agreement with Victor Koenig UK Limited, with the nominee Royale Partners Investment Fund Limited, for inviting an investment of $1.67 billion into its Aamby Valley project.