Minor International eyeing stake in India’s Hotel Leelaventure
Thailand’s Minor International is heading up a consortium keen to take control of hospitality firm Hotel Leelaventure.
Minor is reportedly in talks for a stake worth about $350 million.
The consortium also includes investment firm Trinity White City Ventures.
Leelaventure operates nine luxury Leela hotels, including The Leela Palace Udaipur and The Leela Kovalam.
"Minor is always on the lookout for good investment opportunities, which includes Hotel Leela," said Minor XEO Dillip Rajakarier.
"Nothing is set in stone. We are currently exploring the option."
The deal is for a mixture of equity and debt, according to an unnamed person familiar the matter, and it would end up with the consortium securing a majority control.
Trinity confirmed that talks are ongoing.
Minor has made a few strategic deals recently including the purchase of a controlling stake in Spain’s NH Hotel Group.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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