Goldman to sell Bangalore's Four Seasons Hotel - report
Goldman Sachs is reportedly in formal talks to sell its 73% stake in Bangalore's Four Seasons Hotel in a deal that would fetch up to INR8 billion ($150 million).
Potential bidders for Goldman's stake including Urban Infrastructure Opportunities Fund and real estate developers such as Prestige Group, K Raheja Corp, Nitesh Estates and RMZ. Several ultra high net worth individuals have also expressed interest, two people briefed on the matter told The Times of India.
The remaining 27% of the hotel is held by UK-based Westcourt and Century Real Estate. Goldman - through its real estate unit Whitehall - reportedly bought the land alongside Century for INR4 billion five years ago, with Westcourt coming in later.
The 900,000-square-foot project includes a hotel, luxury residences, retail and office space. Four Seasons is a Canadian hotel chain that operates through management contracts with real estate developers and land owners.
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.