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BRIEF-India Tourism Development Corp enter MoU for stake transfer in joint venture units
April 27, 2017 / 1:38 PM / 4 months ago

BRIEF-India Tourism Development Corp enter MoU for stake transfer in joint venture units

April 27 (Reuters) - India Tourism Development Corp

* India Tourism Development Corp-MoUs have been entered into for transfer of equity stake of ITDC in joint venture subsidiary companies

* Says entered MoU with Assam government for transfer of 51 percent stake of ITDC in Assam Ashok Hotel Corp to Assam government Source text: [India Tourism Development Corporation Limited has informed the Exchange that on April 27, 2017 MoUs have been entered into with the following States for transfer of Equity stake of ITDC in the Joint Venture Subsidiary Companies / transfer of undertaking to the respective State Governments/ State Institutions: 1. Government of Madhya Pradesh for transfer of 51% Equity Stake of ITDC in MP Ashok Hotel Corporation Limited to the MP State Tourism Development Corporation; 2. Government of Assam for transfer of 51% Equity Stake of ITDC in Assam Ashok Hotel Corporation Limited to the Government of Assam; 3. Government of Rajasthan for transfer of Hotel Bharatpur Ashok (Hotel Bharatpur Ashok is being managed by ITDC on behalf of Ministry of Tourism, Government of India).] Further company coverage:

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