STOCKWATCH

Samhi Hotels to Sell 35% Stake in Three Subsidiaries to GIC for INR 22,000 Million

Samhi Hotels Ltd has approved the sale of a 35% stake in three of its wholly-owned subsidiaries, namely Ascent Hotels Private Limited, SAMHI JV Business Hotels Private Limited and Innmar Tourism and Hotels Private Limited, to GIC, a leading global investment firm. The combined enterprise value of the Target Companies is INR 22,000 million. This deal will enable SAMHI to accelerate its growth endeavors given enhanced free cash flow generation and a strong capital partner with an equity investment plan of up to US$ 300 million for the joint venture platform.

• Samhi Hotels to sell 35% stake in three subsidiaries to GIC
• Combined enterprise value of the Target Companies is INR 22,000 million
• Deal to enable SAMHI to accelerate its growth endeavors
• GIC to invest up to US$ 300 million in the joint venture platform
• Transaction to be completed within 120 days from the execution of definitive agreements