Mukesh Ambani-led Reliance Industries (RIL) is planning to acquire Hotel Leelaventure’s business park in Chennai to house its headquarters for its 4G operations, according to reports.
Vivek Nair, vice-chairman and managing director, Hotel Leelaventure reported, “The deal has been finalised with RIL for Rs1.72bn and we are just waiting for the documents to be exchanged.”
The Leela business park is part of the 6-acre land that also houses a 11-storeyed hotel – the Leela Palace with 326 rooms and suites, says report
There are reports that the property with the business park is situated on seafront with Chennai’s main business district in close proximity.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.