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BRIEF-Hotel Leela Venture To Sell Hotels, Property To Brookfield

Published 2019-03-18, 09:06 a/m
Updated 2019-03-18, 09:10 a/m
BRIEF-Hotel Leela Venture To Sell Hotels, Property To Brookfield

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

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