Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
you are here: HomeNewsBusiness

Thailand's Minor may invest Rs 2,500 crore to acquire majority stake in Hotel Leela Venture

In the past one year, Minor has aggressively bid for marquee properties across the globe, and its proposed acquisition of Leela will reportedly be funded by a mix of equity and debt.

November 24, 2018 / 06:33 PM IST
Representative image

Representative image

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

A consortium including Thailand’s Minor International and Trinity White City Ventures plans to invest about Rs 2,500 crore (or $350 million) in Hotel Leela Venture, sources told Bloomberg.

The proposed bid includes a mix of equity and debt, the report said, adding that if the deal goes through, the consortium would end up acquiring a majority stake in the Mumbai-based hospitality firm.

Hotel Leela Venture runs a chain of hotels and resorts, with nine properties, across India, its FY18 annual report stated.

“Minor is always on the lookout for good investment opportunities, which includes Hotel Leela Venture. But nothing is set in stone. We are currently exploring the option,” Dillip Rajakarier, CEO of Minor’s hotel unit, told the wire.