Brief: Hotel Leela Venture To Sell Hotels, Property To Brookfield

HLV

18/03/2019 13:06

March 18 (Reuters) - Hotel Leela Venture Ltd  HTLE.NS :
    * TO SELL CO'S HOTEL BUSINESS ON SLUMP SALE BASIS AS GOING
CONCERN
TO BROOKFIELD
    * TO SELL CO'S HOSPITALITY AND HOTEL OPERATIONS BUSINESS ON
SLUMP
SALE BASIS TO BROOKFIELD
    * APPROVED SALE OF 100PCT STAKE IN LEELA PALACES AND RESORTS
WHICH
OWNS PROPERTY AND HOLDS LICENSES FOR DEVELOPMENT OF HOTEL IN
AGRA
    * DEAL FOR TOTAL CONSIDERATION OF 39.50 BILLION RUPEES
    * WILL CONTINUE TO OPERATE HOTEL IN MUMBAI, OWN CERTAIN LAND
IN
HYDERABAD
    * TO SELL FOUR OWNED LEELA HOTELS LOCATED AT BANGALORE,
CHENNAI,
DELHI AND UDAIPUR AND PROPERTY CO OWNS IN AGRA
    * WILL CONTINUE TO OPERATE THE JOINT DEVELOPMENT PROJECT OF
RESIDENTIAL APARTMENTS WITH PRESTIGE DEVELOPERS IN BANGALORE

Source text: http://bit.ly/2HFGSoo
Further company coverage:  BAMa.TO 

 ((Reuters.Briefs@thomsonreuters.com;))