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The Competition Commission of India (CCI) has provided the approval for acquisition of Hotel Leelaventure’s Goa property by Malaysia-based MetTube.
The hospitality chain Hotel Leelaventure, as a part of the debt restructuring plan, had entered into an agreement with MetTube for selling the Goa property for Rs 725 crore.
Under this deal, Ceres Hotels Private Ltd which is wholly owned Indian subsidiary of MetTube, would be purchasing the property.
The fair trade regulator CCI in a tweet said that it has approved the acquisition of The Leela, Goa, by Ceres Hotels.
