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Tuesday 19-Feb-2013

Hotel Leela sells Chennai IT Park building to RIL for 170 Crores

Shares of Hotel Leela surged higher in as it signed an agreement for sale

By  Traveltechie Bureau | Mumbai

Hotel Leela has signed an agreement for sale with Reliance Industries to sell its IT ParkBuilding in Chennai for Rs 170.17 crore. 

"..the company has executed on February 18, 2013 an Agreement for Sale with Reliance Industries Limited to sell the above said property for a consideration of Rs. 170.17 crore," the company said in a filing to the BSE. 

The company has been trying to reduce its debt by selling its assets.