Apeejay Surrendra Park Hotels in Talks to Acquire 90% of Zillion Hotels

MT Newswires Live

04/24

Apeejay Surrendra Park Hotels (NSE:PARKHOTELS, BOM:544111) has entered into a memorandum of understanding to acquire a 90% stake of Zillion Hotels and Resorts for up to 2.09 billion Indian rupees, according to a Thursday filing to the Indian stock exchanges.

Zillion Hotels owns and operates Z Luxury Residences, including 62 service residences and, food and beverage facilities in Mumbai, India.

On completion of the acquisition, Zillion Hotels will become a subsidiary of Apeejay.

Price (INR): ₹155.08, Change: ₹+0.66, Percent Change: +0.43%

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