homeretail NewsBrookfield Asset Management likely to buy Leela's hotels for Rs 4,500 crore: report

Brookfield Asset Management likely to buy Leela's hotels for Rs 4,500 crore: report

Brookfield Asset Management likely to buy Leela's hotels for Rs 4,500 crore: report
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By CNBC-TV18 Dec 17, 2018 8:59:22 AM IST (Published)

Canadian firm Brookfield Asset Management is in final stages of buying at least four of the five luxury hotels and a land parcel owned by Hotel Leelaventure Ltd for Rs 4,500 crore, Mint reported.

Canadian firm Brookfield Asset Management is in final stages of buying at least four of the five luxury hotels and a land parcel owned by Hotel Leelaventure Ltd for Rs 4,500 crore, Mint reported.

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The deal is expected to close early next year and will mark the company's entry into the hospitality sector, the report said citing three people familiar with the development.
It will also give a major boost to Hotel Leelaventure, which had a debt of Rs 3,799 crore as of March 2018, said the report.
Hotel Leelaventures owns five luxury hotels in New Delhi, Bengaluru, Chennai, Mumbai and Udaipur and comprises of more than 1,400 rooms. The Canadian firm is likely to buy four of these hotels and a land parcel in Agra, as per the report.
 
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