Phoenix Mills to hike stake in Offbeat Developers
From 74.48% to 94.64%
Phoenix Mills has entered into a share purchase agreement on 19 December 2016 for the acquisition of entire shareholding of Vistra ITCL and IIRF Holdings X, equity shareholders in Offbeat Developers, representing a cumulative equity shareholding of 15.18%.The Company has also entered into a share purchase agreement to acquire entire equity share holding of Eder River, representing 4.98% in Offbeat Developers.
Subject to the completion of both the transactions, the shareholding of the Company Offbeat Developers will increase from 74.48% to 94.64%.
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First Published: Dec 19 2016 | 6:48 PM IST