 "Leela Venture")
Hotel Leelaventure’s proposed sale of four properties and other assets to Canadian fund house Brookfield may not wipe out its entire liabilities.
On March 18, Leela announced the sale of its four hotels — located in Bengaluru, Chennai, Delhi and Udaipur — and interest in other assets to Brookfield for Rs 3,950 crore. That’s apart from the Rs 300 crore or more that the promoters were likely to get from parallel arrangements.
The Brookfield transaction was aimed at repaying the lenders and closing all of the company’s borrowings. Leela’s consolidated debt at the end of March 31, 2018,
On March 18, Leela announced the sale of its four hotels — located in Bengaluru, Chennai, Delhi and Udaipur — and interest in other assets to Brookfield for Rs 3,950 crore. That’s apart from the Rs 300 crore or more that the promoters were likely to get from parallel arrangements.
The Brookfield transaction was aimed at repaying the lenders and closing all of the company’s borrowings. Leela’s consolidated debt at the end of March 31, 2018,
