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Provider: Thomson Reuters Stock Report

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Tata Group's Indian Hotels Company Ltd Seeks RBI Nod To Hive Off International Operations-The Economic Times

Thursday, 9 May 2013 06:30pm EDT 

The Economic Times reported that Tata Group's hotel arm, Indian Hotels Company Ltd (IHCL), has sought the Reserve Bank of India's approval to hive off international operations into a new company, persons with direct knowledge of the matter said. IHCL plans to bring all overseas hotel assets under this step-down holding company, and subsequently raise money by selling up to a 49% stake to foreign investors, the sources. The international assets include ownership of Campton Place Hotel in San Fransisco, Taj Boston and hotels in Sri Lanka, Maldives, Dubai and Bhutan. IHCL also has a management contract for The Pierre in New York. A minority stake in Orient Express is also part of the key international assets of the Company. 

Company Quote

1.75 +1.53%
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