Tata Group-owned Indian Hotels Company Ltd (IHCL) on Monday said Oriental Hotels Ltd will be merged with IHCL through an all-stock transaction.
The Boards of Oriental Hotels and IHCL have approved a Scheme of Arrangement to this effect.
The Scheme of Arrangement proposes a share swap ratio of 25 IHCL shares for every 117 OHL shares, and aims to complete the transaction in the second half of FY2028.
“In line with our Accelerate 2030 strategy of creating value, simplifying the group’s holding structure and unlocking the full potential of OHL portfolio including iconic assets like Taj Coromandel, Chennai, Taj Fisherman’s Cove Resort & Spa, Chennai and Taj Malabar Resort & Spa, Cochin, the Boards of IHCL and OHL have today approved this merger,” Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL said.
Oriental Hotels is an associate company of IHCL. The company has a portfolio of seven hotels with 825 rooms.
This includes freehold assets: Taj Coromandel – …
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