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GIC hikes stake in Indian developer

It buys 5.1m Phoenix Mills shares for 1.06b rupees

[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...

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