Recently, Valor Estate Limited (Earlier known as DB Realty Limited) announced separate listing of its "Hospitality Business" through demerger along with amalgamation of its wholly owned subsidiary.
Valor Estate Limited ("VEL" or "Demerged Company" or "Transferee Company") is interalia engaged in:
a. Real Estate business which consists of a portfolio of Saleable assets & residential category, annuity assets in commercial category and land banks for future development
b. Hospitality business which consists of developing and owning multiple luxury hotel properties.
VEL's equity shares are listed on nationwide bourses.
Esteem Properties Limited ("EPL" or "Transferor Company") is a wholly-owned subsidiary of VEL which is engaged in development of real estate. Currently, the company owns 5.4 acre of developable land in Sahar, Mumbai.
Shiva Realtors Suburban Private Limited (Being renamed as Advent Hotels International Limited) ("AHIL" or "Resulting Company") is a wholly-owned subsidiary of VEL. Just before announcing the demerger, AHIL acquired subsidiaries engaged in Hotel business from VEL.
Recent Transactions:
Entry into Hospitality Business:
Till September 2023, VEL was engaged only in real estate business. In order to diversify existing business, VEL decided to foray into Hospitality business. VEL acquired following entities from promoter group to enter hospitality segment:
50% equity stake in Bamboo Hotels & Global Centre (Delhi) Private Limited a joint venture between Prestige Hospitality and VEL Promoters is constructing a hotel complex comprising of the St. Regis (189 rooms) and the Marriott Marquis (590 rooms) in Delhi for a consideration of INR 608 crore
100% equity stake of Goan Hotels & Realty Private Limited engaged in operating a hotel in Goa for a consideration of INR 1410 crore
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Esta historia es de la edición August 2024 de M & A Critique.
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