Yum! Brands’ KFC India is selling off 61 equity-owned restaurants to diversified group RJ Corp-promoted Devyani International (DIL) for an undisclosed amount, in line with its global strategy to exit capital-intensive...
ITC trying to scuttle deal with Brookfield, claim Leelaventure promoters
Promoters for Hotel Leelaventure on Monday told the National Company Law Tribunal that minority shareholder ITC was trying to scuttle their deal with Brookfield, because the Canadian asset manager could pose it...
Leela sale row: ITC seeks waiver of minimum shareholding norm
Hotel major ITC Tuesday sought waiver of the norms regarding minority shareholders in its case against Hotel Leelaventure in which it owns less than the mandated 10 percent. The ITC counsel told the tribunal comprising...
ITC says it hasn’t made any offer for Leela assets
ITC has said it has not made any offer to acquire the assets of Hotel Leela venture, putting to rest speculation that it is keen to acquire the assets at a lower cost being a competitor, and which is why it has thrown a...
Singapore’s CDL makes fresh bid to buy rest of Millennium & Copthorne Hotels
Millennium & Copthorne Hotels Plc has agreed to be acquired by majority owner City Developments Ltd (CDL) in a deal that values the British company at 2.23 billion pounds ($2.84 billion), the companies said on...
Italy’s Autogrill looking for acquisitions as war chest grows
Italy’s Autogrill, which runs restaurants and bars at airports, motorways and railways around the world, is looking at possible acquisitions in related sectors in the next few years, when it will have 1.5 billion euros...
NCLT accepts Hotel Leelaventure’s request to hear petition after 6 weeks
The bankruptcy court has given Hotel Leelaventure six weeks before it would take up an insolvency petition against the hotel chain, and asked the markets regulator to complete its examination of the company’s asset-sale...
Pret A Manger swallows EAT as it looks to boost Veggie brand
Pret A Manger has bought smaller rival EAT, the British sandwich and coffee shop chain said on Wednesday, as it looks to capitalize on the thriving vegan and vegetarian market through its Veggie Pret brand. Pret A...
Wynn Resorts ceases talks with MGM to sell $2.6 billion Massachusetts casino
Wynn Resorts Ltd said on Tuesday the company has decided to stop talks with MGM Resorts International to sell its Encore Boston Harbor casino. “After careful consideration, we have agreed to cease discussions with MGM...
Goldman Sachs in talks to buy B&B Hotels from PAI Partners
Goldman Sachs is in talks to buy B&B Hotels from private equity firm PAI Partners, the companies said on Monday, in a deal which an earlier report from the Financial Times said could be worth 1.9 billion euros ($2.1...
Wynn Resorts in talks to sell $2.6 billion Massachusetts casino to MGM
Wynn Resorts Ltd is in talks to sell its nearly finished $2.6 billion casino outside of Boston to rival MGM Resorts International, the two companies said on Friday. Las Vegas-based Wynn received its Massachusetts...
IHCL and GIC create Rs 4000 crore platform to acquire hotel assets
Indian Hotels Co. (IHCL) and Singapore’s sovereign wealth fund GIC NSE 2.87 % will set up a three-year, Rs 4,000-crore investment platform to acquire hotels in the luxury, upper-upscale and upscale segments, the company...
