Phoenix Logistics and Industrial Parks (PLIPPL), a wholly owned subsidiary of Phoenix Mills, has completed the acquisition of 100% equity shares of Janus Logistics and Industrial Parks under a Share Purchase Agreement (SPA) dated January 16, 2023 for an aggregate consideration of Rs 26.03 crore.
As a result, Janus Logistics and Industrial Parks (Janus) has become a wholly owned subsidiary of PLIPPL and a step down wholly owned subsidiary of the Company. Janus owns approximately 33 acres of land in the villages of Kabulpur, Faridabad, and Losighani, Sohna, Haryana. The acquisition is consistent with the company’s previously disclosed plans to diversify existing revenue streams and explore synergies in related sectors such as logistics and warehousing.
Phoenix Mills is a real estate developer in India. Its activities include project planning, execution, and marketing, property rental and management, and property maintenance and sale.