Indian Hotels to consider amalgamation with two subsidiaries

Tata Group hospitality arm Indian Hotels today said its board will consider its amalgamation with wholly-owned subsidiaries Lands End Properties and International Hotel Management Services LLC next week.
A meeting of the board of directors of the company will be held on October 19 to "consider and if thought fit, approve the amalgamation of the company with Lands End Properties Pvt, a wholly-owned subsidiary, by way of a scheme of arrangement between the company, LEPPL and their respective shareholders and creditors," Indian Hotels Company said in a filing to BSE.
The board will also consider and decide on the amalgamation of the company with its wholly-owned subsidiary International Hotel Management Services LLC, incorporated in the State of Delaware, United States, it added.

In an earlier filing to BSE, Indian Hotels had said the company has completed the purchase of 80.1 per cent stake of LEPPL from its erstwhile shareholders and pursuant to the purchase, LEPPL had become a wholly-owned subsidiary of the company.
The stock of Indian Hotels Company today closed at Rs 87.20 on BSE, down 0.34 per cent.