The Phoenix Mills Ltd - Acquisition of majority stake in Gangetic Hotels Private Limited

Phoenix Mills Ltd has informed BSE that the Company has acquired entire equity stake held by MTX Hotels Private Limited, Amitabh Tayal and Priyank Tayal in Gangetic Hotels Private Limited (GHPL) aggregating to 19.38% of GHPL's equity share capital on October 06, 2015. Accordingly, subsequent to the aforesaid acquisition, in terms of the provisions of the Companies Act, 2013. GHPL has become a subsidiary of the Company with effect from October 06, 2015.