UVS Hospitality and Services has executed the term sheet with the Calcio Restaurants (Calcio), to acquire the majority stake in the Calcio. The Calcio is engaged in the business of owning and operating premium hospitality brands including Dragonfly, Shiloh, Not Just Tamasha, Lord of Drinks, Garnet, Club Iguana, (The Flying Saucer which will be renamed Aomi).
Subsequent to the completion of aforesaid acquisition, the company will hold the majority stake of the equity share of Calcio. The proposed transaction is subject to completion of satisfactory due diligence by the company and Calcio, subject to execution of definitive agreements and fulfilment of the conditions as may be applicable from time to time.
UVS Hospitality and Services is venturing in the Food and Beverage space wherein it wants to start with setting up food kiosks in high footfall areas providing customers with a wholesome experience of gastronomy.
