Cyril Amarchand Mangaldas Advised Canada Pension Plan Investment Board on Stake Divestment in Island Star Mall
The leading Indian law firm Cyril Amarchand Mangaldas advised the Canada Pension Plan Investment Board (CPPIB) in the phased divestment of its entire 49% stake in Island Star Mall Developers Private Limited to The Phoenix Mills Limited and its affiliates for an aggregate consideration of approximately INR 5,449 crores.
The transaction was signed on July 24, 2025, and the completion of the first tranche is anticipated prior to November 30, 2025 (subject to regulatory approval from the Competition Commission of India). The subsequent tranches are proposed to be implemented at regular intervals over the next three years.
The Cyril Amarchand Mangaldas team advising on the transaction was led by Reeba Chacko (Senior Partner), Siddharth Hariani (Partner), and Saurav Samaddar (Partner), with assistance from Srushti Shanbhag (Principal Associate Designate) and Ohmkar Vishal (Associate).
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