Leela Group
The Leela Group which is the former partner of Kempinski AG in India is in talks to sell some part of its properties in order to pay debt as stated by its chairman Vivek Nair. The group, whose listed unit Hotel Leela Venture Ltd. had a total debt of Rs 5,000 crore ($821 million) as [...] Continue Reading »
Asian Business Connection, the holding company of the Carnival Group has acquired the IT Park in Kochi from the company owned by the promoters of Leela Group for Rs 280 crore. The Mumbai-based Carnival Group seems to be very satisfied with this deal as the property is spread over 6.5 acres and brings in good rental income. Out [...] Continue Reading »
Wealth funds of Abu Dhabi, Qatar and Malaysia are competing with each other to acquire two of India’s prime properties. It is going to be one of the biggest deals in the Indian hospitality industry. The governments mentioned above are cash rich and are looking to pick up 74% stake in the Leela Group’s Delhi [...] Continue Reading »
