Enters into share purchase agreements on 19 May 2017
Phoenix Mills announced that the Company has entered into a Share Purchase Agreement (SPA) dated 19 May 2017 for the acquisition by the Company of the entire 5.36% equity shareholding of HBS Realtors ('HBS'), in Offbeat Developers ('ODPL').The proposed acquisition by the Company will be effected on the terms and conditions contained in the SPA. Further, as informed vide our earlier letters in this regard on the captioned subject, the Company has entered into Share Purchase Agreements to acquire entire equity shareholding of IIRF Holdings X ('IIRF'), Vistra ITCL (India) ('Vistra') and Eder River 'Eder River'), representing a cumulative stake of 11.05% in ODPL.
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