THE PHOENIX MILLS LTD - Updates on Acquisition

The Phoenix Mills Ltd - Updates on Acquisition

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29 Sep 2017
This is further to our letter dated December 19, 2016 regarding the Share Purchase Agreement (SPA) dated December 19, 2016 entered into by the Company for the acquisition of entire shareholding of Vistra ITCL (India) Limited ('Vistra') and IIRF Holdings X Limited ('IIRF'), equity shareholders, representing a cumulative equity shareholding of 15.18% in Offbeat Developers Private Limited ('ODPL'), a subsidiary of the Company and our subsequent letters dated December 29, 2016 and March 31, 2017 in this regard.<BR> <BR> In accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Company has further acquired 0.80% equity stake of Vistra on September 28, 2017 and 5.27% equity stake from IIRF on September 29, 2017 in ODPL. Subsequent to the above acquisitions, the shareholding of the Company in ODPL has increased from 93.93% to 100% and ODPL has become a wholly owned subsidiary of the Company.<BR>
View all announcements for The Phoenix Mills Ltd	Source: BSE India

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