Phoenix Mills has acquired entire shareholding of Werra River representing 7.96% equity stake in Vamona Developers (VDPL) on September 4, 2017.
The company has entered into a Share Purchase Agreement (SPA) with Crest Ventures (CVL) on September 4, 2017 for acquisition of their entire 5% shareholding in VDPL. Pursuant to the said SPA, the company has acquired entire 5% equity shareholding of CVL on September 5, 2017.
Consequent upon acquisition of the aforesaid shares, the company’s cumulative equity shareholding in VDPL has increased from 86.55% to 99.51%.
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.
