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Panoramic Universal signs MOU to acquire 100% of Sri Vatsa Hotels Pvt Ltd
Posted On : 2007-04-11 03:34:37( TIMEZONE : IST )
With reference to the earlier announcement dated February 21, 2007 regarding the proposed acquisition of 100% stake in M/s. Sri Vatsa Hotels Pvt Ltd (SVHPL), Panoramic Universal Ltd has announced that the Company on April 10, 2007 has signed a Memorandum of Understanding with the shareholders of SVHPL for the acquisition of their 100% stake in the said Company. The cost of acquisition is Rs 176.5 Million.
The acquired Company shall construct a three / four star hotel with approximate 90 rooms at its premises located in the heart of Secunderabad, just 1.5 Kms away from the Hyderabad Airport.
