Juniper Hotels to Participate in Gstaad Hotels' CIRP with €1,175 Crore Consideration

Juniper Hotels Limited has approved its participation in the Corporate Insolvency Resolution Process (CIRP) of Gstaad Hotels Private Limited. The proposed target asset under the CIRP is a five-star hotel property in Bengaluru, Karnataka. The transaction is not a related party transaction and does not fall under the Company's main line of business. The acquisition is aimed at the potential revival of the distressed hotel and growth in the premium hospitality sector. The claims admitted and determined by the CoC amount to approximately €1,175 Crore (Rupees One Thousand One Hundred Seventy-Five Crore Only). The final cost of acquisition is determinable only at the time of submission of the final plan. Juniper Hotels has not acquired any shareholding or control as of the date of this disclosure.