Indian Hotels Company Acquires 51% Stake in Brij Hospitality for ₹222 Crore
IHCL completes acquisition of 51% stake in Brij Hospitality for ₹222 cr
Business Standard
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The Indian Hotels Company Limited (IHCL), backed by Tata Group, has acquired a 51% stake in Brij Hospitality for approximately ₹222 crore (about $27 million USD). This acquisition makes Brij a subsidiary of IHCL, enhancing its portfolio in the hospitality sector.
- 01IHCL has acquired a 51% stake in Brij Hospitality.
- 02The total investment for this acquisition is approximately ₹222 crore.
- 03Brij Hospitality is now a subsidiary of IHCL.
- 04The acquisition includes shares from existing shareholders and new investments.
- 05This move strengthens IHCL's position in the hospitality market.
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The Indian Hotels Company Limited (IHCL), a prominent player in the hospitality sector and part of the Tata Group, has successfully acquired a 51% stake in Brij Hospitality for a total investment of approximately ₹222 crore (around $27 million USD). This acquisition, which was finalized according to a regulatory filing, transforms Brij Hospitality into a subsidiary of IHCL. The deal involves purchasing shares from existing shareholders and making a primary investment through a mix of compulsorily convertible preference shares and partly paid-up equity shares. This strategic move is expected to enhance IHCL's portfolio and strengthen its presence in the competitive hospitality market.
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This acquisition could lead to increased job opportunities and improved services in the hospitality sector, benefiting both employees and customers.
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