A consortium including Thailand’s Minor International Pcl is considering an investment of about $350 million in Indian hospitality firm Hotel Leelaventure Ltd., according to a person with knowledge of the matter.
The proposed bid, which is also backed by investment firm Trinity White City Ventures, includes a mix of equity and debt, the person said. The consortium would end up with a majority stake in Mumbai-based Hotel Leelaventure if the transaction proceeds, the person said, asking not to be identified because the information is private.
There’s no certainty the deliberations will lead to an agreement, the person said.
Hotel Leelaventure runs a chain of hotels and resorts, with nine properties it owns or manages across India, according to the company’s latest annual report. Its luxury properties include The Leela Palace Udaipur, situated on picturesque Lake Pichola, and The Leela Kovalam, located on a beachside cliff in the southern state of Kerala.
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