Mumbai-based Kamat Hotels has bought 9 per cent stake of partner BSEL Infrastructure Realty, in BW Highway Star for an disclosed amount. Kamat’s stake has thus gone up to 26 per cent.
BW Highway Star is a joint venture, operating two hotels, Orchid and VITS, in Pune’s Balewadi area. Unity Infraprojects (25 per cent) and Clear Water Capital Partners (49 per cent) are the two partners holding stakes in the JV company with the remaining stake with Kamat Hotels.
Kamat Hotels has bought 1,058,824 shares out of the total paid up capital of the company from one of the joint venture partners, it said in a statement to BSE.
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