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Blackstone Group receives court approval to buy Trident hotel in Hyderabad, India

Feb 15, 2020 - Marketline Newswire
Mergers and Acquisitions

Private equity firm Blackstone Group has secured approval from the Indian court to buy Trident hotel in Hyderabad for $81.7m.

This is the private equity firm's first deal in the country under the bankruptcy law, reported Economic Times. The approval was given to Blackstone group by the National Company Law Tribunal last week. This approval comes over a year after Trident's creditors approved the PE firm's offer. To clear the debt of Golden Jubilee Pvt Ltd, which owns Trident, Blackstone of...