First News
Volume:7, Number:48
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Business & Finance 3
THIS WEEK

Sahara in Talks for Sale of Foreign Hotels, 30 Domestic Assets

The embattled Sahara group is in talks for sale of its three prized foreign hotels, while final bids are being evaluated for auction of its 30 domestic properties estimated at about Rs75 billion. While more than 250 Expressions of Interest (EOIs) were received for sale of the 30 domestic properties across India, sources said several of the interested parties, including some big corporates, have also submitted their final bids now. While the identity of final bidders could not be ascertained, sources said 25-26 interested parties have submitted final bids. Those having submitted EOIs had included Tatas, Godrej, Adani, and Patanjali, as also several real estate developers such as Omaxe and Eldeco. Besides, some high net worth individuals (HNIs) and a public sector company had also submitted EOIs for the assets. Sahara chief Subrata Roy last month appeared before the Supreme Court, which extended his parole till June 19 with a warning that failure to pay Rs15 billion, as promised, may again land him in jail.

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