The National Company Law Tribunal (NCLT) today directed the US-based McDonald’s Corp to submit a reply to the show cause notice issued by it over a contempt plea filed by the fast food chain’s estranged...
Hotel
Wyndham to buy La Quinta hotel business for $1.95 billion
Wyndham Worldwide Corp (WYN.N) will buy La Quinta Holdings Inc’s (LQ.N) hotel operations for $1.95 billion, it said on Thursday, adding another well-known U.S. brand and nearly 900 mid-scale, upper mid-scale and economy...
NRI businessman Yusuffali MA acquires iconic Scottish hotel
Leading NRI businessman Yusuffali MA has acquired an iconic Scottish hotel based in Edinburgh in a $120 million deal clinched by Twenty14 Holdings (T14H), the hospitality investment arm of his Abu Dhabi headquartered...
NDMC likely to put off Taj Mansingh auction; bidders’ issues unresolved
The much-awaited bidding of the capital’s iconic Taj Mansingh hotel is set to be delayed further. The New Delhi Municipal Council (NDMC), given a nod by the Supreme Court last year to auction the luxury hotel, had plans...
Vatika Hotels buys back shares from Goldman for Rs 3 bn, plans IPO in Q3
Vatika Hotels, the hospitality arm of the Gurgaon-based real estate major Vatika group, has bought back shares held in it by US banking group Goldman Sachs for Rs 3 billion. Now owning 100 percent of its equity, the...
Brigade Enterprises may list proposed hotel unit as REIT
Bengaluru-based Brigade Enterprises Ltd, which is in the process of moving all its hotel assets into a separate unit, may consider listing the new entity as a real estate investment trust (REIT) or going public in the...
Israel’s Rami Levi to buy 20 percent of Cofix coffee chain
Israel’s Rami Levi Chain Stores (RMLI.TA) has agreed to buy 20 percent of coffee and snack chain Cofix Group (CFX.TA) at a company valuation of 105 million shekels ($30 million). Rami Levi, one of Israel’s leading...
Rabo Bank buys out Aditya Birla PE’s stake in Olive Bar
A fund sponsored by Dutch lender Rabobank has bought out Aditya Birla Private Equity’s stake in restaurateur A D Singh-promoted Olive Bar and Kitchen for an undisclosed sum. The India Agri Business Fund II has...
CG Group sets up funds worth $800 million to buy distressed assets in India, Europe and south Asia
CG Hotels & Resorts, part of the Kathmandu-based Chaudhary Group, is setting up three funds, totaling $800 million (more than Rs5,000 crore), to buy distressed assets in India, South Asia and Europe. With this, the...
CG Corp to set up Rs 5k-cr fund to buy hotels, resorts
The Kathmandu-based CG Corp Global is setting up two investment platforms to acquire hotels and resorts. Funds, about Rs 5,000 crore, would be used to buy property in India, Southeast Asia as well as stressed...
LVMH investment arm buys Smoke House Deli owner
French luxury goods conglomerate LVMH’s investment arm L Catterton Asia has acquired majority stake in restaurateur Riyaaz Amlani’s Impresario Entertainment & Hospitality, promoter of fine dining...
Embassy Group’s Jitendra Virwani may buy Hard Rock Café franchisee
Jitendra Virwani, owner of Bengaluru-based real estate conglomerate Embassy Group, is close to buying a controlling stake in JSM Corp. Pvt. Ltd, which runs Hard Rock Café and California Pizza Kitchen in India, two...
