A consortium led by Oberoi Realty will pay Rs 9.19 billion to acquire bankrupt hospitality firm Hotel Horizon. The resolution plan, also involving Shree Naman Developers and JM Financial Properties & Holdings, was approved by the committee of creditors on July 14. A letter of intent has been issued in favour of the consortium. The acquisition will be executed either directly or via a new special purpose vehicle, with the payment settling all outstanding claims and CIRP costs.

Contact: Oberoi Realty

Website: www.oberoirealty.com

Email: corpcomm@oberoirealty.com

Tel. No.: 022 6677 3333