2 hrs ago
Juniper Hotels to Acquire Novotel Imagicaa for Rs 248 Crore
Juniper Hotels has agreed to buy the Novotel Imagicaa hotel from Imagicaaworld Entertainment.
The deal is worth Rs 248 crore.
Juniper’s board approved the agreement on September 16, and the MoU was signed on October 5.
The hotel is in Khopoli, Maharashtra, near Mumbai.
It covers about 11 acres and has 287 guest rooms.
It also has restaurants, spaces for meetings and events, and recreational facilities.
Juniper said the acquisition will not involve issuing new shares.
Juniper Hotels signed a binding MoU with Imagicaaworld Entertainment to acquire Novotel Imagicaa.
The agreed total consideration for the acquisition is Rs 248 crore.
Juniper’s board approved the MoU on September 16, and it was signed on October 5.
The hotel is in Khopoli, Maharashtra, on about 11 acres, with a built-up area of approximately 2.8 lakh square feet.
Novotel Imagicaa has 287 guest rooms and includes restaurants, event facilities and recreational amenities.
- Who
- Juniper Hotels and Imagicaaworld Entertainment.
- What
- Juniper Hotels signed a binding MoU to acquire the operating Novotel Imagicaa hotel for Rs 248 crore.
- Where
- Khopoli, Maharashtra.
- When
- The board approved the MoU on September 16; it was signed on October 5. The article does not specify the year.
- Why
- The stated purpose of the MoU is Juniper Hotels’ acquisition of the hotel; the articles do not give a further reason.
Key facts
- Agreed consideration
- Rs 248 crore
- Property
- Operating Novotel Imagicaa hotel
- MoU approved by board
- September 16
- MoU signed
- October 5
- Location
- Khopoli, Maharashtra
- Guest rooms
- 287
- Land and built-up area
- About 11 acres of land; approximately 2.8 lakh square feet built-up area
- Share issuance
- The acquisition does not involve issuance of shares by Juniper Hotels.
Sources
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