Kamat Hotels approves 60% stake divestment

Kamat Hotels India today said it has decided to divest its 60 per cent stake in the subsidiary, Concept Hospitality Ltd to other group of shareholders.

The company in a filing to the Bombay Stock Exchange said that the board at its meeting held on February 1, decided to divest its stake in its subsidiary.

Further, the company has authorised the Executive Chairman and Managing Director to do all necessary acts, deeds and to sign necessary documents in this regard, the filing added.