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Air India puts HCI`s Delhi Centaur, flight kitchens on block
Mumbai, Oct 14: Air-India will sell 376-room Centaur Hotel at Delhi Airport and two Chefair flight kitchens of its subsidiary Hotel Corporation Of India (HCI) in the second round of disinvestment.
Mumbai, Oct 14: Air-India will sell 376-room Centaur
Hotel at Delhi Airport and two Chefair flight kitchens of its
subsidiary Hotel Corporation Of India (HCI) in the second
round of disinvestment.
The airline has retained JP Morgan India Private Ltd as a
global advisor for the sale process, according to the
Preliminary Information Memorandum (PIM); the Expressions Of
Interest (EOIS) for acquiring properties have to be filed
before November 11, 2003.
Parties interested in acquiring one or more of the HCI's businesses on a going concern basis should have a combined net worth of at least Rs 25 crore, it said.
Apart from the luxury hotel close to the airport, the flight kitchen has a capacity to provide 8,000 meals per day.
The company has reduced its employees by 306 through VRS to 689 as on July 31 last.
The minimum combined net worth criteria for the Mumbai unit is Rs two crore which has a capacity to deliver 10,000 meals per day. It has reduced its employees by 69 through VRS to 460 as of July 31 last.
HCI had last year sold its two Centaur hotels, Juhu property to hotelier Ajit Kerkar promoted Tulip Hospitality and the second at the Mumbai airport, which was picked up by Batra Hospitality.
The sale of the second property had kicked off a controversy as it was resold within a year by Batra to Sahara group at a profit.
Bureau Report
Parties interested in acquiring one or more of the HCI's businesses on a going concern basis should have a combined net worth of at least Rs 25 crore, it said.
Apart from the luxury hotel close to the airport, the flight kitchen has a capacity to provide 8,000 meals per day.
The company has reduced its employees by 306 through VRS to 689 as on July 31 last.
The minimum combined net worth criteria for the Mumbai unit is Rs two crore which has a capacity to deliver 10,000 meals per day. It has reduced its employees by 69 through VRS to 460 as of July 31 last.
HCI had last year sold its two Centaur hotels, Juhu property to hotelier Ajit Kerkar promoted Tulip Hospitality and the second at the Mumbai airport, which was picked up by Batra Hospitality.
The sale of the second property had kicked off a controversy as it was resold within a year by Batra to Sahara group at a profit.
Bureau Report