Indiabulls Swaps Hotel Property For 10% Stake In Gaming Company
Wed, 01/02/2008 - 15:24 — Sahad P VBroking-to-real estate conglomerate Indiabulls has picked up a 10 per cent stake in High Street Cruises & Entertainment, reports Hindustan Times. High Street is owned by Jiadev-promoted Arrow Webtex. High Street had recently acquired Pune-based Victor Hotels and Motels from Diana Buildwell, a wholly owned subsidiary of Indiabulls.
The deal is a share-swap between Indiabulls and High Street, according to which the former gets a 10 per cent stake in High Street in return for its 100 per cent stake in Victor. Indiabulls, however, has not confirmed the deal.
There is not much information available on High Street Cruises.
Comments
January 16, 2008
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April 15, 2010
The deal is a share-swap between Indiabulls and High Street, according to which the former gets a 10 per cent stake in High Street in return for its 100 per cent stake in Victor. Really? I thought it was one of the Budget Hotels in London