Leela looking at selling some stake in Delhi, Chennai hotels
Quotes

Leela looking at selling some stake in Delhi, Chennai hotels

Last Updated: Thursday, April 24, 2014, 18:49
 
 Comment 0
 
Leela looking at selling some stake in Delhi, Chennai hotels
New Delhi: Hotel Leelaventure Ltd on Thursday said it is looking at selling some stake in some of its properties like the ones at Delhi and Chennai to pare debt.

The firm which owns, operates and manages hotels, palaces and resorts, is likely to hive off the properties into separate entities and sell 74 percent stake to a foreign investor. Leela will retain 26 percent stake and continue to manage the five-star hotels.

"The group is in discussions with various investors and continues to evaluate the proposals," Leelaventure said.

In a filing to the BSE earlier this week it had said: "The company is in discussion with various investors and lenders, for raising funds to meet debt servicing obligations".

The company said it has informed exchanges earlier also about discussions with investors and lenders for raising funds to meet debt servicing obligations.



PTI

First Published: Thursday, April 24, 2014, 18:43


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved