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06-Sep2017

Phoenix Mills hikes stake in ASPL to 74.09%

Phoenix Mills has acquired entire shareholding of Fulda River representing 15.95% equity stake in Alliance Spaces (ASPL) on September 4, 2017. The company has also acquired entire shareholding of K2A Hospitality (K2A) representing 16.26% equity stake in ASPL on September 5, 2017.

Further, the company has acquired entire 5.12% shareholding of Crest Ventures (CVL), an equity shareholder in ASPL on September 5, 2017. Consequent upon the aforesaid acquisitions, the company's effective shareholding in ASPL has increased from 36.76% to 74.09%.

Phoenix Mills is engaged in property development in India. Its activities include planning, execution, and marketing of projects, property rental and management, and maintenance and sale of the completed properties.




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