Brief: India Tourism Development Corp enter MoU for stake transfer in joint venture units

India Tourism Development

27/04/2017 14:31

April 27 (Reuters) - India Tourism Development Corp 
 ITDC.BO  
    * India Tourism Development Corp-MoUs have been entered into 
for transfer of equity stake of ITDC in joint venture subsidiary 
companies 
    * Says entered MoU with Assam government for transfer of 51 
percent stake of ITDC in Assam Ashok Hotel Corp to Assam 
government 
 
Source text: [India Tourism Development Corporation Limited has 
informed the Exchange that on April 27, 2017 MoUs have been 
entered into with the following States for transfer of Equity 
stake of ITDC in the Joint Venture Subsidiary Companies / 
transfer of undertaking to the respective State Governments/ 
State Institutions: 1. Government of Madhya Pradesh for transfer 
of 51% Equity Stake of ITDC in MP Ashok Hotel Corporation 
Limited to the MP State Tourism Development Corporation; 2. 
Government of Assam for transfer of 51% Equity Stake of ITDC in 
Assam Ashok Hotel Corporation Limited to the Government of 
Assam; 3. Government of Rajasthan for transfer of Hotel 
Bharatpur Ashok (Hotel Bharatpur Ashok is being managed by ITDC 
on behalf of Ministry of Tourism, Government of India).] 
Further company coverage:  ITDC.BO  
 
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