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Prestige Estates Projects rose 2.13% to Rs 296.65 after the realty firm on Wednesday announced that it has completed phase 1 of proposed transaction with Blackstone Group.The enterprise value forming part of phase 1 is approximately Rs 7467 crore out of the total enterprise value of approximately Rs 9160 crore as mentioned in the initial disclosure. Phase 1 of the transaction includes sale of twelve assets/undertakings comprising of completed retail, office, hotel assets. Phase 2 of the transaction is expected to get completed by the end of next quarter. Prestige Estates said the overall transaction (Phase1&2) includes 100% stake sale in 6 completed office projects (include a hotel), 50% stake sale in four under construction projects and 85% stake sale in 9 Shopping malls.

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