Diversified group ITC has won the bid to acquire Park Hyatt Hotel property in Goa, owned by Blue Coast Hotels — put up for public auction by IFCI — for Rs.515.44 crore
Declaring ITC as the successful bidder at Rs.515.44 crore, IFCI said in a filing to the BSE that the Kolkata-based company has remitted 25 per cent of the bid amount of Rs.128.86 crore as per the terms of the tender document.
“Further, ITC has been advised to remit 75 per cent of the balance amount within 15 days for the confirmation of sale,” IFCI said.
Earlier, in a separate filing, ITC said IFCI had informed that it has been declared as the highest/successful bidder for Park Hyatt Hotel located at Cansaulim, Goa, along with land and built up area of the hotel together with all buildings and structures and plant and machineries.
The aforesaid assets of Blue Coast Hotels were put up on sale by IFCI through public auction under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, it added.
Blue Coast Hotels owns Park Hyatt Goa Resort & Spa, a five-Star deluxe beach resort at Goa, MGM Grand New Delhi, Sheraton Chandigarh and Sheraton Amritsar.
Shares of ITC on Monday closed at Rs.390.15, down 1.45 per cent, on the BSE.
