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CPPIB to build malls as India mulls more access for foreign retailers Add to ...

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International retailers are looking to India’s emerging middle class to spur sales growth, and Canada’s largest pension fund is taking notice.

The Canada Pension Plan Investment Board said on Wednesday it would launch a partnership to buy and build retail-focused developments across the country. CPPIB, which has also been busy investing in malls in China’s developing economy, will partner with developer Phoenix Mills Ltd. in the venture. CPPIB plans to spend $330-million over all for a 49-per-cent stake in the investment platform.

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