Phoenix to buy out Andrew Yule from JV

 The German company has already received approval from the Foreign Investment Promotion Board (FIPB) to buy out the 26 per cent stake in Phoenix Yule. Phoenix Yule is 74:26 JV between Yule and the German company.

 Informed sources said final discussions on the transfer were on and the deal is expected to be sealed shortly.

 T K Mukherjee, managing director of Phoenix Yule, said,