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Mergers & Acquisitions | 23 October 2012

DB Hospitality May Cut Stake In Delhi Airport Hotel SPV

by Sushil Surana

DB Hospitality is planning to cut stake up to 49% in the SPV formed to develop an eight-acre plot in the hospitality district of @Delhi_International, according to ET.

DB Hospitality aims to raise around R350 Cr from this stake sale.

Last year, @DB_Realty picked up 49% equity stake in DB Hospitality.

DB Hospitality was also looking to raise around R1500 Cr for execution of the hotel projects by selling stake in any of its three operational and five under-construction properties, last year.

In 2009, Delhi International Airport Ltd (DIAL), the consortium that manages the Delhi airport, had auctioned and sub-leased 14 plots for development. DB Hospitality, the hotels business arm of DB Realty, was awarded the plot under this bidding process for a rental and development charge of R400 Cr.

Hong Kong Firm May Buy Stake In Veer Energy

Crown Impex, based in Hong Kong is touted to buy around 24% stake in Veer Energy & Infrastructure Limited, according to ET. It also added that the stake could be bought for R15 per share.


German Partner Mulheim Pipe Exits Welspun Enterprises

After selling its entire stake in Welspun Corp, German partner Mulheim Pipe Coatings (MPC) GmbH has sold its entire holding of 3.14% in the demerged unit of Welspun Corp, Welspun Enterprises, for a total consideration of INR 50 Mn. The stake was bought by Welspun Infra Developers Limited at a unit price of INR 121, by way of a private arrangement.

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