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Hotel Leelaventure receives CCI's nod for sale of its Goa property

14 Dec 2015 Evaluate

Hotel Leelaventure has received an approval from the Competition Commission of India (CCI) for sale of its Goa property. CCI approved acquisition of Hotel Leelaventure’s Goa property by Malaysia-based MetTube.

As part of the debt restructuring plan, the hospitality chain had entered into a pact with MetTube to sell the Goa property for Rs 725 crore. Under the deal, the property would be purchased by Ceres Hotels, a wholly-owned Indian subsidiary of MetTube.

Hotel Leelaventure operates hotels and resorts in India. It also operates spas; and offers facilities for meetings and events, weddings, and social celebrations. The company’s portfolio includes luxury hotels and resorts primarily in Mumbai, Bangalore, Goa, Kovalam, Gurgaon, and Udaipur.



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