Yes Bank has acquired about 20.6% stake in Tulip Star Hotels Limited by invoking 949,930 pledged equity shares of the company. The private lender exercised its right after Ezeego One Travel, a company that had pledged...
Blackstone to continue takeover talks with Unizo
Blackstone said on Monday it will continue talks with Japanese hotel chain Unizo Holdings on its proposed $1.6 billion takeover bid and plans to make an announcement by Nov. 22. The U.S. asset manager last month emerged...
Private equity firms want a big sip of Café Coffee Day
Private equity firms KKR, TPG Capital and Bain Capital have signed non-disclosure agreements (NDAs) with Coffee Day Enterprises (CDEL), initiating discussions on buying a significant stake in the group’s coffee...
Fortress raises offer for Japan’s Unizo by 2.5%, extends bid period
Fortress Investment Group raised its bid on Friday for Japanese hotel operator Unizo Holdings by 2.5% but the offer remains well below both the current share price and an offer from a rival suitor. SoftBank Group-owned...
China’s Huazhu to buy German luxury hotel group Steigenberger
China’s Huazhu Group is buying the Steigenberger hotels as it seeks to extend its global reach with the addition of one of Germany’s most well-known upmarket chains. Huazhu, already the world’s fifth-largest hotel group...
Lemon Tree Hotels acquires Berggruen Hotels and the brand ‘Keys Hotels’
Lemon Tree Hotels acquired Berggruen Hotels in November 2019 taking its total inventory to 7,800 rooms in 77 hotels across 45 destinations, making it India’s largest hotel chain in the mid-priced hotel sector. Keys...
Blackstone ready to hold more talks with Japan bid target Unizo
Blackstone said on Thursday that Japanese hotel operator Unizo had missed a deadline to agree with conditions set for its proposed $1.6 billion takeover bid, but the U.S. buyout group was prepared to embark on more...
China’s Huazhu to buy German luxury hotel group Steigenberger
China’s Huazhu Group is buying the Steigenberger hotels as it seeks to extend its global reach with the addition of one of Germany’s most well-known upmarket chains. Huazhu, already the world’s fifth-largest hotel group...
Hotel Leelaventure completes sale of assets to Brookfield
Hospitality firm Hotel Leelaventure Ltd on Tuesday said it has completed sale of its hotel properties and operations to Canada-based Brookfield Asset Management Inc. The Rs3,950 crore deal also marks the entry of...
Chalet Hotels may buy out Accor’s Novotel in Pune for Rs 290 crore
Chalet Hotels, the Indian owner of Marriott-operated hotels, is all set to buy out Accor Hotel’s Novotel Hotels in Pune, according to people aware of the deal. Valued at an estimated Rs 290 crore, the buyout is...
Japan’s Unizo rejects bids from local fund, Blackstone
Japanese hotel chain Unizo Holdings said on Thursday it had rejected buyout proposals from a “locally renowned” fund as well as U.S. private equity firm Blackstone Group, adding to a list of spurned suitors. The...
SAT ends Leela over asset deal with Brookfield, for Now
The Securities Appellate Tribunal (SAT) on Thursday rejected ITC’s challenge to the sale of Hotel Leelaventure’s properties to Brookfield Asset Management, in an order that takes the Canadian infrastructure and real...
