THE Delhi-based Asian Hotels (AHL), one of the largest players in the hospitality business, has got its shareholders’ approval to demerge the company into three independent entities. The three undertakings will own one property each in Delhi, Mumbai and Kolkata.
The Mumbai undertaking, along with investments and development options in Bangalore, would be transferred to its subsidiary Chillwinds Hotels; the Kolkata undertaking, along with investments and development options in Bhubaneswar and Regency Convention Centre and Hotels Limited, would be transferred to its subsidiary Vardhman Hotels, and the Delhi undertaking would form the residual Asian Hotels. All the three entities would be separately listed and traded on the exchanges.
Under the scheme of demerger, every existing shareholder of Asian Hotels would get equal number of shares in the two new entities in the ratio of 3:10. This means that for every 10 shares held by them, they will get 3 shares each of the two new entities. The company is yet to announce the record date for the demerger and hence, investors can still buy into the company’s stock.
More : economictimes.indiatimes.com
Send an E-Mail for mumbai Property Enquiry!
Related News from Mumbai
East India Hotels Ltd plans hotels in Bangaluru and Goa
Owner of the Oberoi brand, luxury hotels group East India Hotels Ltd says it will invest Rs650 crore to strengthen its presence in Bangaluru and Goa by adding new hotel as part of its growth plans to add another 10 properties and 2,300 rooms. The group also plans to integrate the recently established Trident brand under its EIH Associated Hotels. EIL plans to open 10 hotels in the next three years, of which seven new hotels would be managed by the company and three on a management-contract basis. The company shall add 2,300 rooms in India and abroad by 2011
More cos converting realty into revenue
More corporates are joining the bandwagon of non-textile companies that are unlocking the real estate potential of their properties. The latest corporate entrant in the list is Golden Tobacco. On Monday, Golden Tobacco Board resolved to develop its 7.7-acre Vile Parle property here, besides approving development of other properties in Mumbai, Guntur and Hyderabad. The company will hold an extraordinary general meeting on January 18 to obtain the approval of its shareholders. An acre in Vile Parle has the potential to generate Rs 80 crore. A few days back, Hindustan Composites said it was exploring opportunities to unlock value of its Ghatkopar property (18
Asian Optical
Asian Optical is a location in Mumbai in India. If you have seen Asian Optical , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Asian Optical is important to us. Please provide you comment / review / article on Asian Optical in Mumbai below.
Asian sky shop ltd
Asian sky shop ltd is a location in Mumbai in India. If you have seen Asian sky shop ltd , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Asian sky shop ltd is important to us. Please provide you comment / review / article on Asian sky shop ltd in Mumbai below.
The Asian AgeNewspaper
The Asian AgeNewspaper is a location in Mumbai in India. If you have seen The Asian AgeNewspaper then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about The Asian AgeNewspaper is important to us. Please provide you comment / review / article on The Asian AgeNewspaper in Mumbai below.