Blackstone, KKR, others in race to buy bankrupt Golden Jubilee Hotels, says report
Updated : July 25, 2018 10:44 AM IST
Marquee investors Blackstone, KKR and JM Financial Asset Reconstruction Company (ARC) have placed offers to acquire the bankrupt Golden Jubilee Hotels, the operator of the Trident in Hyderabad, The Times of India reported.
Edelweiss Asset Reconstruction Company is said to be the fourth bidder for Golden Jubilee, the paper said.
An investment arm of JP Morgan and EIH, which runs the Oberoi and Trident chain, together have a large stake in the company, owes more than Rs 970 crore to financial and operational creditors.