Hotel Leela goes up 3% on Brookfield deal

Brookfield will buy a large land parcel in Agra and will also buy the brand 'Leela'.

Shares of Hotel Leela goes up 3% on Brookfield deal
NEW DELHI: Shares of Hotel Leelaventure were up over 3 per cent on Monday afternoon after reports that the company's deal with Brookfield Asset Management was concluded.

ETNow reported that Brookfield will buy four hotels and a land parcel owned by the company for around Rs 4,500 crore, which marks Brookfield's entry into India's hospitality sector.

Brookfield will buy a large land parcel in Agra and will also buy the brand 'Leela'.


The major chunk of the deal will be used to pay 14 lenders of Hotel Leela, which has a debt of around Rs 3,700 crore.

Shares of Hotel Leelaventure closed 1.09 per cent up at Rs 13.01 on the BSE .
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