April 6, 2017 / 4:29 AM / 3 months ago

BUZZ-India's Phoenix Mills jumps to 7-mth high; Canada Pension to invest in unit

1 Min Read

** Phoenix Mills Ltd gains as much as 7.3 pct to its highest in seven months

** Canada Pension Plan Investment Board (CPPIB) says to invest about 16 bln rupees ($246.05 mln) to own up to 49 pct stake in Phoenix Mills' unit Island Star Mall Developers - joint statement

** CPPIB to initially invest 7.24 bln rupees for a 30 pct stake, and then raise it in stages

$1 = 65.0275 Indian rupees

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