Brookfield to check into Hotel Leela Venture for Rs 3,950 crore

Bringing curtains down on months of negotiations, Hotel Leela Venture on Monday said it had inked a binding agreement with a fund sponsored by Canada’s Brookfield Asset Management for a slump sale of four hotels, property in Agra and hotel management contracts.

This will be for a transaction value of Rs 3,950 crore. The promoters of the Leela brand would also be transferring the brand to Brookfield for all hospitality businesses. 

This deal would mark the entry of the Canadian firm in a sector that is seeing renewed interests from investors after a lull of several years on the back of improved