Sebi likely to ask for tweaks to Brookfield's bid for Hotel Leelaventure

Regulator looking at issues flagged by minority shareholders

The Securities and Exchange Board of India (Sebi) is likely to ask Brookfield to alter the structure of its bid to acquire the assets of Hotel Leelaventure.

In April, the market regulator had asked Brookfield and Hotel Leela to hold the sale of the assets following objections raised by minority shareholders such as Life Insurance Corporation of India (LIC) and ITC.

Sources said the regulator was not on board with the current offer as it had observed certain anomalies with respect to a side agreement with the buyer (Brookfield). “Any transaction should ensure that the company has negotiated a fair price to