Tata to acquire Hotel Campton, US for mln

New Delhi, Apr 3: Tata Group's Indian Hotels Company Ltd today said, it in partnership with financial investors, will acquire San Francisco-based Hotel Campton Place for 60 million dollars.

The cost has been arrived at after including estimated transaction costs.

The company has received its board's nod for the takeover, which is now subject to other statutory approvals. Indian Hotels, which also owns Taj brand of hotels, said it proposes to acquire Campton Place through its wholly-owned US-based subsidiary.

Hotel Campton Place is a 110-room luxury boutique hotel situated in Union Square in the heart of the city on the West Coast of the US.

The transaction closure is scheduled for April 30.

UNI