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  Business   Companies  05 Sep 2017  No final pact with anyone to sell Chennai hotel: Hotel Leela

No final pact with anyone to sell Chennai hotel: Hotel Leela

PTI
Published : Sep 5, 2017, 2:09 pm IST
Updated : Sep 5, 2017, 2:09 pm IST

Shares of Hotel Leelaventure were trading at Rs 24.05 per scrip in the afternoon trade on BSE.

Company has already received shareholders' nod for the 'sale of hotels in Delhi/Chennai' in September 2016.
 Company has already received shareholders' nod for the 'sale of hotels in Delhi/Chennai' in September 2016.

New Delhi: Hotel Leela venture on Tuesday said there is no final agreement with any party to sell its Chennai hotel, though negotiations are on to sell the property in coordination with JM Financial.

The company has already received shareholders' nod for the 'sale of hotels in Delhi/Chennai' in September 2016, Hotel Leelaventure said in a filing to BSE.

 

"The company in coordination with JM Financial Institutional Securities has been in negotiations to sell the Chennai hotel. However, the company has not entered into any binding agreement with any party, till date," it added.

The hospitality chain was reacting to a media report that Marigold Capital and Investments has agreed to buy the company's Chennai property.

"The company and its senior management continue to evaluate proposals and would inform the bourses at an appropriate time", Hotel Leelaventure said.

Shares of Hotel Leelaventure were on Tuesday trading at Rs 24.05 per scrip in the afternoon trade on BSE, up 2.56 per cent from the previous close.  

 

Tags: hotel leela, shareholders, jm financial, shares
Location: India, Delhi, New Delhi