JP Associates likely to merge with Jaypee Hotels

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JP Associates likely to merge with Jaypee Hotels

JP Associates is likely to merge Jaypee Hotels with self, reported CNBC-TV18, qouting sources. However, JP Associates and Jaypee Hotels' management could not be reached for comments.

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Here is a transcript of Varinder Bansal's comments on CNBC-TV18. Also watch the accompanying video.

CNBC-TV18 has learnt that in a bid to bring about more stability in its revenues, JP Associates may be looking at merging the group's hotel business with itself.

However, JP Associates and  Jaypee Hotels ' management could not be reached for comments.

JP Associates holds 73.7% stake in Jaypee Hotels. JP Associates and Jaypee Hotels board meeting will take place today.

JP Greens was amalgamated with JP Associates in 2006. Jaypee Hotels is a cash flow generating asset and has six properties in and around NCR. JP Associates is trying to bring more stability in its revenues by way of the merger.