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.
Goa based Vedanta Limited, is going to acquire up to 5.33% stake in oil and gas exploration company Cairn India for over R2,200 Cr . It will acquire 100 Mn shares from Twin Star Mauritius Holdings on June 3, 2015 or within a period of 90 days at R220.40 per share.