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By Jitesh Jha Mar 22, 2023 9:48:29 PM IST (Published)
Chalet Hotels will acquire 100 percent equity shares of Sonmil Industries for Rs 74.64 crore, and 82.28 percent of equity shares of the Dukes Retreat for Rs 81.75 crore. Remaining, 17.72 percent of the equity shares of The Dukes Retreat Private Limited will continue to be held by Sonmil Industries Private Limited.
Chalet Hotels on Wednesday (March 22), said its board has approved the share purchase agreements for acquisition of equity shares of Sonmil Industries Private Limited and The Dukes Retreat Private Limited.
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As per the approval from the Board, Chalet Hotels will acquire 100 percent equity shares of Sonmil Industries for Rs 74.64 crore. This acquisition is likely to be completed by March 31, 2023.
Besides, the company will acquire 82.28 percent of equity shares of the Dukes Retreat for Rs 81.75 crore. Remaining, 17.72 percent of the equity shares of The Dukes Retreat Private Limited will continue to be held by Sonmil Industries Private Limited, which is also being acquired. This acquisition is likely to be completed by March 31, 2023.