Hotel Leelaventure, an operator of luxury hotels, is reportedly in talks with US private equity firm KKR & Co LP to receive a loan of up to Rs 2,000 crore. In this regard, Hotel Leelaventure could pledge part of its assets with KKR.
Moreover, the private equity firm is seeking an option that would allow it to swap the loan with shares. Shares of KKR in Hotel Leelaventure, which had debt of Rs 4,659 crore as of March 2013, rose as much as 6.3% on March 10, 2014.
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.
