Sahara India is planning to acquire 85% stake in Sant Singh Chatwal's flagship property Dream Downtown Hotel in New York through its Mauritius based subsidiary Aamby Valley Ltd.
The Chatwal group will retain the remaining 15% stake in hotel, while the existing franchise agreement with the Wyndham Hotel Group to run Dream Downtown will continue to remain in place even after Sahara takes over the hotel.
Dream Downtown has 315 rooms, an expansive rooftop lounge, a beach club and extensive fitness facilities with spa services.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
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