Phoenix Mills acquires 70% stake in Palladium, Platinum

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New Delhi, Mar 26 (UNI) Phoenix Mills Ltd today said it has acquired 70 per cent stake in Palladium Constructions Pvt Ltd and Platinum Hospitality Services Pvt Ltd and invested in two project specific SPVs of these companies.

The SPV has acquired 67,735 sq meters land at Bangalore and the cost of the land including stamp duty and registration charges is Rs 352 crores, said a statement.

This development is expected to give the company a significant branding and profiling as a Retail Format Developer provider in South-India, the statement added.

UNI PBB SG DS1213

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