Advent Hotels International Seeks Shareholder Approval for Material Related Party Transaction

Advent Hotels International Ltd. has informed that its Board of Directors has approved to seek approval of the shareholders on a material related party transaction. The transaction involves the sale of shares of Bamboo Hotel and Global Centre (Delhi) Private Limited, along with the assignment of loan granted, to Valor Estate Limited. The total consideration for the sale of shares is approximately Rs. 596.70 Crores. Additionally, a deed of assignment will be executed to assign/transfer existing outstanding loans aggregating to approx. Rs. 1058.89 crores granted by the Company to Bamboo Hotel. The transaction is expected to be completed within 60 days, subject to approval from shareholders, lenders, and the Buyer.