Diversified conglomerate, ITC has acquired 4.62% stake in Hotel Leelaventure through its wholly-owned subsidiary Russell Credit. It has consolidated its shareholding in Hotel Leelaventure and raised its stake to 12.88% from 8.26% earlier.
The company has purchased over 17.9 million shares from Russell Credit through an off-market transaction on February 9, 2011. It has been regularly increasing its stake in Krishnan Nair-promoted Hotel Leelaventure. ITC aims to increase stake in Hotel Leelaventure if the prices are attractive.
ITC, a diversified conglomerate has business interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
