 "Hotel Leelaventure sells Goa property for Rs 725 cr")
Shares of Hotel Leela Venture have jumped 2% to Rs 21.80 on the BSE after the company sold its hotel in Goa for Rs 725 crore.
The company entered into a business transfer agreement to sell its hotel "The Leela, Goa" to MetTube Sdn, Bhd, Malaysia. Ceres Hotel Private Limited, a wholly owned subsidiary of MetTube, agreed to acquire the Goa Hotel.
Upon the completion of the sale which is expected to occur on or before December 31, 2015, pursuant to a hotel operation and management services agreement, the company will continue to manage and operate the Goa hotel, and the hotel shall continue to be known as "The Leela, Goa," the company said in a filing to the BSE.
The stock opened at Rs 23 and a total of 361,878 shares changed hands on the BSE so far.
