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Chalet Hotels Ltd - Announcement under Regulation 30 (LODR)-Updates on Acquisition
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24 Mar 2023
With reference to the captioned subject and further to our letter dated March 22, 2023, and pursuant to the respective Share Purchase Agreements, we hereby inform that on March 23, 2023: (a)the existing shareholders of Sonmil Industries Private Limited (&apos;Sonmil&apos;) have transferred 100%of the Equity Shares to the Company and the Company has paid the complete cash consideration of Rs.746.45 Million (including cash and cash equivalents), for the said acquisition. (b)the existing shareholders of The Dukes Retreat Private Limited (&apos;Dukes&apos;) have transferred 82.28%of the Equity Shares to the Company and the Company has paid the complete cash consideration of Rs.817.56 Million (including cash and cash equivalents), for the said acquisition. Consequent to above, Sonmil has become a wholly owned subsidiary of the Company and Dukes has become a subsidiary of the Company. Further, the Press Release being issued in respect of the said acquisition is attached herewith.
View all announcements for Chalet Hotels Ltd Source: BSE India