Samsara Properties sells 5.1% stake held on Belmond
Indian Hotels Co announced that Samsara Properties, the Company's indirect overseas wholly owned subsidiary, has sold 5,175,000 (Five million one hundred seventy five thousand only) Class 'A' Common Shares of the face value of US$ 0.01 each of Belmond, representing 5.1% of the total outstanding Class 'A' Common Shares for a net consideration of US$ 49.57 million. The sale proceeds are being utilized largely for retirement of debt.Post the above sale, Samsara Properties continues to hold 0.44% of the Class 'A' Common Shares of Belmond.
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