Crest Ventures divests its entire stake in Classic Mall Development Company

Crest Ventures announced that the company along with its wholly owned subsidiary, Escort Developers has liquidated its entire stake being 38,49,058 equity shares constituting 50% of the paid up equity share capital of Classic Mall Development Company for an aggregate consideration of Rs 936 crore to The Phoenix Mills on 05 May 2022. Consequently, Crest's and Escort's holding in CMDCL is NIL and CMDCL ceased to be an associate company.

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