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Not Signed Any Final Pact With Anyone To Sell Chennai Property: Hotel Leela
Hotel Leela has clarified that no final pact has been signed to sell its Chennai hotel.
05 Sep 2017, 04:33 PM IST 
Hotel Leela, Chennai. (Source: Company Website)
Hotel Leela Venture Ltd. has said there is no final agreement with any party to sell its Chennai hotel, though negotiations are on to sell the property in coordination with JM Financial.
The company has already received shareholders' nod for the 'sale of hotels in Delhi and Chennai' in September 2016, Hotel Leela Venture said in a BSE filing.
The company in coordination with JM Financial Institutional Securities has been in negotiations to sell the Chennai hotel. However, the company has not entered into any binding agreement with any party, till date.Hotel Leela Venture Exchange Filing
The hospitality chain was reacting to a media report that Marigold Capital and Investments has agreed to buy the company's Chennai property. “The company and its senior management continue to evaluate proposals and would inform the bourses at an appropriate time,” Hotel Leela Venture said.
Shares of Hotel Leelaventure ended 2.13 percent higher at Rs 24 on the National Stock Exchange.
