Blackstone (BX) will hire Citigroup (C) to raise the equivalent of at least $200 million to back its purchase of South City Mall in Kolkata, Bloomberg reported, citing unnamed people familiar with the matter.

Citigroup plans to syndicate the debt among investors that include private credit funds but details of the financing remain under discussion, the report said.

Blackstone is nearing a deal to acquire the mall for as much as $400 million, the report said.

Blackstone and Citigroup India did not immediately reply to MT Newswires' request for comment.

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