{"id":30014,"date":"2022-03-17T19:08:47","date_gmt":"2022-03-17T13:38:47","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-eih-stake-sale\/"},"modified":"2022-03-17T19:08:47","modified_gmt":"2022-03-17T13:38:47","slug":"biz-eih-stake-sale","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-eih-stake-sale\/","title":{"rendered":"EIH&#8217;s broad approves sale of entire stake in wholly-owned arm to France-based Newrest for Rs 55.2 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2797889922\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Mar 17 (PTI) Hospitality firm EIH Ltd, part of the Oberoi group, on Thursday said its broad has approved the sale of its entire stake in wholly-owned arm EIH Flight Services Ltd, Mauritius, for Rs 55.2 crore to France-based catering service provider Newrest Group International.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2789427128\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The share purchase agreement will be executed in due course. The long stop date of three months from signing of documents is being considered to conclude the transaction, EIH Ltd said in a regulatory filing.<\/p>\n<p> &#8220;The board of directors at its meeting held on March 16, 2022, approved the sale of entire shareholding in the wholly owned subsidiary EIH Flight Services Ltd, Mauritius, for a consideration of MUR 325 Million (equivalent Rs 55.2 crore), &#8221; it said.<\/p>\n<p> EIH Ltd, however, did not disclose reasons for the sale.<\/p><div class=\"trade-content_5\" id=\"trade-4280328178\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The buyer is Newrest Group International, a company incorporated in Toulouse, France, and does not belong to the promoter group companies, it added.<\/p>\n<p> Newrest is a catering service provider active in all hospitality segments, including inflight, rail and group catering, retail, buy on board, duty free, remote site and support service. PTI RKL  HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-1399449314\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Mar 17 (PTI) Hospitality firm EIH Ltd, part of the Oberoi group, on Thursday said its broad has approved the sale of its entire stake in wholly-owned arm EIH Flight Services Ltd, Mauritius, for Rs 55.2 crore to France-based catering service provider Newrest Group International. The share purchase agreement will be executed in [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-30014","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EIH&#039;s broad approves sale of entire stake in wholly-owned arm to France-based Newrest for Rs 55.2 cr - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-eih-stake-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EIH&#039;s broad approves sale of entire stake in wholly-owned arm to France-based Newrest for Rs 55.2 cr\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Mar 17 (PTI) Hospitality firm EIH Ltd, part of the Oberoi group, on Thursday said its broad has approved the sale of its entire stake in wholly-owned arm EIH Flight Services Ltd, Mauritius, for Rs 55.2 crore to France-based catering service provider Newrest Group International. 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