ASIAN HOTELS (EAST) LIMITED
Key Transaction Details
The company, Asian Hotels (East) Limited, has formally exercised a Buy Option. This option is part of a Framework Agreement that was originally dated 11th August, 2023, and has since been amended. The purpose of exercising this option is to acquire the Hyatt Regency Mumbai hotel property.
The acquisition is not being undertaken directly by the parent company but through its wholly-owned subsidiary, Novak Hotels Pvt Ltd, which is based in Mumbai.
The seller of the hotel asset is identified as Asian Hotels (West) Ltd, a company based in New Delhi.
The disclosure states this communication is for information and dissemination purposes to the stock exchanges (BSE Limited and the National Stock Exchange of India Ltd). It does not quantify the financial terms, such as the acquisition value, of the transaction.