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Indian Hotels’ arm executes share sale deed for divestment of ‘The Blue Hotel’

10 Jul 2014 Evaluate

Indian Hotels Company’s (IHCL) - offshore wholly owned subsidiary - Samsara Properties, has executed a share sale deed for the divestment of 100% of its shareholding in The Blue Hotel, in Sydney, in favour of Australia Hotels & Properties. The transaction value is A$ 32 million.

The divestment is subject to fulfillment of certain conditions and the transaction is scheduled to be completed by October 31, 2014 as transfer of a going concern. The divestment is being undertaken to focus in markets which are core to Taj Group’s operations and create liquidity to fund the company’s short to medium term fund requirements for its ongoing expansion in such markets.

Australia Hotels & Properties belongs to the Jhunjhnuwala family controlled Hind Hotels & Properties Group. Based out of Hong Kong, the Hind Group owns and operates hotels and serviced apartments under the Ovolo brand.

The Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and recognized as one of Asia's largest and finest hotel company. IHCL operate in the luxury, premium, mid-market and value segments of the market.

Indian Hotel Share Price

659.55 6.25 (0.96%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Indian Hotel 659.55
ITC Hotels 162.45
EIH 321.55
Chalet Hotels 778.90
Mahindra Holi.&Resor 272.70
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