The Phoenix Mills Ltd - Updates on Acquisition of shares by the Company in its subsidiary, Alliance Spaces Private Limited
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| 15 Dec 2016 | |
| With reference to the earlier letter dated December 07, 2016 regarding the Share Purchase Agreement (SPA) dated December 06, 2016 entered into by the Company for acquisition by the Company of the entire 20.01% shareholding of K2A Hospitality Limited ('K2A'), an equity shareholder in Alliance Spaces Private Limited ('ASPL'), a subsidiary of the Company.<BR><BR>Phoenix Mills Ltd has now informed BSE that the Company on December 14, 2016 has acquired 3.75% equity stake from K2A. Subsequent to the above transaction, the effective shareholding of the Company in ASPL has increased from 33.01% to 36.76%.<BR><BR>The acquisition by the Company of the balance shares held by K2A in ASPL will also be effected on the terms and conditions mutually agreed between the Company and K2A and will be subject to fulfillment of certain conditions precedent and other independent conditionalities contained in the SPA.<BR><BR>The Company will intimate further details to the Exchanges in this regard, upon fulfillment of the conditions precedent/other independent conditionalities and the closing of the proposed further acquisition. | |
| View all announcements for The Phoenix Mills Ltd | Source: BSE India |
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