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GIC hikes stake in Indian developer

It buys 5.1m Phoenix Mills shares for 1.06b rupees
Wednesday, February 12, 2014 - 06:00

[SINGAPORE] GIC is continuing with its foreign property investment spree. Last week, it enlarged its stake in Bombay-listed property developer Phoenix Mills from 1.476 per cent to 5.023 per cent in an open market transaction worth 1.06 billion rupees (S$21.6 million). This is the Singapore

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