PE-RE Fund Investments
Canada’s CPP Investments to pick 28% in Prestige Hospitality for Rs.3,000-Cr
BSE Announcement Economic Times
The Canada Pension Plan Investment Board (CPP Investments) is to invest INR.3,000 crore in Bengaluru-based Prestige Hospitality Ventures (PHVL), a subsidiary of publicly listed Prestige Estates Projects, in return for a 28% stake. The investment will be executed in multiple tranches through a combination of primary and secondary share purchases.PHVL has a Standalone Revenue of INR 345.9 crore. The company plans to use the capital injection to support its hospitality business operations.
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