Panoramic Universal Limited is planning to divest stake to 49% from 70% in its Thailand subsidiary - Seaview Homes Company Limited.
The subsidiary was formed last year to acquire Condominium Units in Thailand. The company has acquired condominiums in Pattaya and is in the process of acquisition at Bangkok.
The Company is also planning to make investment in securities or give loan to one or more companies in Singapore up to an overall limit of R10 Cr.
After a repeated attempt by Indian Hotels Limited to buyout the Orient-Express Hotels, the operator of luxury hotels, cruise and train services in the West, has rejected the offer stating ‘cheap’ valuation as a reason.
Gaming and hospital firm, Delta Corp is planning to sell its 35.6% in Advani Hotels and Resorts India and has mandated Yes Bank for the same.