Powered by

Blackstone gets NCLT nod to acquire Trident Hotel for Rs 585 crore

Feb 15, 2020 - The Economic Times
Mergers and Acquisitions

HYDERABAD: US private equity giant Blackstone Group obtained the approval of India's bankruptcy court to acquire Trident Hotel, owned by Golden Jubilee Hotels and manged by East India Hotels (EIH) of Oberoi group, for around Rs 585 crore, months after lenders cleared its resolution plan.This is the first deal by the global private equity giant under India's Insolvency and Bankruptcy Code (IBC) to infuse foreign capital.As a part of its resolution plan, Blackstone Group under its resolution plan ...