Credit Suisse buys minority stake in Park Hotels

Credit Suisse reportedly acquires a 15% stake in India's boutique Park Hotels chain in a deal that values the target at $350 million.

Credit Suisse real estate has made its second investment in India acquiring around 15% of the Park Hotels chain.

No financial details of the deal were available, but sources say Credit Suisse will pay between $50 million and $55 million for a 15% stake in Park Hotels. This places the equity value of the investee company, which is closely held by the Apeejay Surrendra Group, at around $350 million.

Sources familiar with the deal say the auction run by advisor...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: credit suisse | park hotels | real estate

Print Edition

FinanceAsia Print Edition