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Mergers & Acquisitions | 18 April 2012

Viceroy Hotels Sells Chennai Property To Mahal Hotels

by Charmi Gutka
Viceroy Hotels Sells Chennai Property To Mahal Hotels
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@Viceroy Limited has sold its Chennai hotel project in MRC Nagar to Chennai based @Mahal_Hotels.

The deal will help to reduce the debt by R400Cr and help the company to focus on the existing projects and thereafter enable it to take up new projects. The company has been seeking to restructure its business operations bringing down debt on its balance sheet.

It had initiated a series of measures, including slump sale of Bangalore and Chennai properties.

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