SAMHI Hotels Says Co, GIC Establish Joint Venture For Upscale Hotel Assets In India

Reuters

04-24

April 24 (Reuters) - Samhi Hotels Ltd ::
*SAMHI HOTELS LTD - GIC AND SAMHI ESTABLISH JOINT VENTURE FOR UPSCALE HOTEL ASSETS IN INDIA
*SAMHI HOTELS - GIC TO ACQUIRE 35% STAKE IN THREE SAMHI UNITS FOR 7.52 BILLION RUPEES
*SAMHI HOTELS - UPON CLOSING, EXPECTS 5.8 BILLION RUPEES DEBT REDUCTION; 15-20% PAT INCREASE
*SAMHI HOTELS - 1.49 BILLION RUPEES TO PART FUND CAPEX FOR WESTIN/TRIBUTE PORTFOLIO
*SAMHI HOTELS - BOTH PARTIES TO EXPLORE GROWTH OPPORTUNITIES IN UPSCALE, HIGHER SEGMENT
*SAMHI HOTELS - TO GROW JOINT VENTURE PORTFOLIO IN 65-35 RATIO
*SAMHI HOTELS - PARTNERSHIP WITH EQUITY INVESTMENT PLAN OF UP TO $300 MILLION

((Reuters Investor Briefs; email: reutersinvestor.briefs@thomsonreuters.com))
Source Date/Time = 24-APR-202501:31:49.783 GMT

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