Hotel Leelaventure surges 10% on Brookfield deal
Brookfield Asset Management has finalised the terms and conditions to acquire Hotel Leelaventure.
By ETMarkets.com | Updated:
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NEW DELHI: Shares of Hotel Leelaventure surged 10 per cent in early trade on Tuesday, rising for the second session in a row, buoyed by news of a buyout by Brookfield.
Brookfield Asset Management has finalised the terms and conditions to acquire Hotel Leelaventure with lender JM Financial for around Rs 4,500 crore, ET reported.
Earlier, a consortium of investors including Blackrock, SSG Capital and RB Capital had also been in the fray for acquiring the hotel chain.
On Monday, an ETNow report said that Brookfield will buy four hotels and a land parcel owned by the company for around Rs 4,500 crore, which marks Brookfield's entry into India's hospitality sector.
Brookfield will buy a large land parcel in Agra and will also buy the brand 'Leela', the report added.
Shares of Hotel Leelaventure closed 4.53 per cent up at Rs 13.60 on BSE.
Brookfield Asset Management has finalised the terms and conditions to acquire Hotel Leelaventure with lender JM Financial for around Rs 4,500 crore, ET reported.
Earlier, a consortium of investors including Blackrock, SSG Capital and RB Capital had also been in the fray for acquiring the hotel chain.
On Monday, an ETNow report said that Brookfield will buy four hotels and a land parcel owned by the company for around Rs 4,500 crore, which marks Brookfield's entry into India's hospitality sector.
Brookfield will buy a large land parcel in Agra and will also buy the brand 'Leela', the report added.
Shares of Hotel Leelaventure closed 4.53 per cent up at Rs 13.60 on BSE.
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