 "Hotel Leela climbs on asset sale")
Shares of Hotel Leela Venture have jumped 2% to Rs 21.80 on the BSE after the company sold its hotel in Goa for Rs 725 crore.
The company entered into a business transfer agreement to sell its hotel "The Leela, Goa" to MetTube Sdn, Bhd, Malaysia. Ceres Hotel Private Limited, a wholly owned subsidiary of MetTube, agreed to acquire the Goa Hotel.
Upon the completion of the sale which is expected to occur on or before December 31, 2015, pursuant to a hotel operation and management services agreement, the company will continue to manage and operate the Goa hotel, and the hotel shall continue to be known as "The Leela, Goa," the company said in a filing to the BSE.
The stock opened at Rs 23 and a total of 361,878 shares changed hands on the BSE so far.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%