Prestige Estates shares in focus as CPP Investments to acquire 27% stake in hospitality arm for ₹3,000 crore
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- ✓Prestige Estates shares are in focus on Wednesday, September 30, as CPP Investments will acquire a 27% stake in its hospitality arm for ₹3,000 crore.
- ✓This marks the firm’s first direct hospitality investment in India.
- ✓The capital will support the platform’s expansion across key cities like Bengaluru, Delhi, and Mumbai.
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- MARKET
- Reported By
- cnbctv18
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- 2 Minute(s)
- Market Focus
- India Economy
This is CPP Investments' first direct investment in India's hospitality sector and builds on its growing hospitality exposure across the Asia Pacific, including the recent investments in Japan and Korea, Prestige Estates said.
Shares of Prestige Estates Projects Ltd. are in focus on Wednesday, September 30, as Canada Pension Plan (CPP) Investment Board will be investing ₹3,000 crore in its hospitality platform.
The company informed the exchanges on Tuesday that CPP Investments has announced a ₹3,000 crore investment in Prestige Hospitality Ventures Ltd. (PHVL) and it will acquire approximately 27% stake in the hospitality arm. Majority of the capital will be supporting the platform's continued expansion.
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