Oberoi Realty consortium acquires Hotel Horizon for ₹920 crore
pre-market1 source ↓written by the desknot a recommendation
- under the Insolvency
- ₹919.25 crore
- was designated
- 7 May 2023
- in the hotel
- 49.999% stake
- hotel after infusing
- ₹460 crore
Oberoi Realty Limited announced that its consortium has completed the acquisition of Hotel Horizon Private Limited for ₹919.25 crore under the Insolvency and Bankruptcy Code. The transfer date was designated as 7 May 2023, following NCLT approval in January. Oberoi Realty now holds a 49.999% stake in the hotel after infusing ₹460 crore.
This acquisition enhances Oberoi Realty's portfolio, potentially boosting its revenue streams and market position in the hospitality sector.
Not investment advice. For informational purposes only.