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Kolte Patil Developers Ltd Acquire 49% Stake In Two Arms-Business Standard


Tuesday, 19 Feb 2013 05:31am EST 

Business Standard reported that Kolte Patil Developers Ltd has acquired a 49% stake in its two subsidiaries namely Oakwoods Hospitality and Jasmine Hospitality for total consideration of INR65.62 crores (INR656.2 million). Formerly these subsidiaries were formed by KPDL with a 51% stake ownership, and Epsilon Investments Limited, a Foreign Investor had 49% stake in both the subsidiaries. However, the completion of this transaction results in both subsidiary companies becoming wholly owned subsidiaries of KPDL. Oakwoods Hospitality and Jasmine Hospitality subsidiaries have a project in Pune and Bangalore. The acquisition of these two companies ties in with KPDL’s larger plans for upcoming real estate projects. 

Company Quote

152.05
0.6 +0.40%
30 Jul 2014