Indian Hotels Board Approves Scheme of Arrangement for OHL Amalgamation

The Board of Directors of Indian Hotels Company Limited (IHCL) has approved a Scheme of Arrangement for the amalgamation of Oriental Hotels Limited (OHL) into IHCL. This strategic move, subject to NCLT and shareholder approvals, aims to create synergies by combining businesses with complementary portfolios. OHL, an associate company of IHCL, has a significant presence in South India. The amalgamation is expected to leverage IHCL's expertise and OHL's regional strength. The transaction is considered a related party transaction but will be conducted on an arm's length basis, with valuations supported by reports from PwC and SSPA & Co., and a fairness opinion from Kotak Mahindra Capital Company.