Clearwater currently owns 8.48 per cent stake in Sayaji. It was recently reported that Clearwater was converting Sayaji's foreign currency convertible bonds (FCCBs), which it subscribed in 2006, into equity at Rs 75 per share. Clearwater's open offer period is between May 20 to June 8, 2010 and the offer is made at Rs 110 per share, Sayaji Hotels said in a stock exchange filing. Sayaji Hotels operates three properties in Vadodara, Indore and Pune. It has two subsidiaries, Barbeque Nation Hospitality and Malwa Hospitality.
Clearwater Capital Partners eyes majority stake in Vadodara─based Sayaji Hotels Ltd
According to a report in Reuters, Clearwater Capital Partners, a New York─based special situation private equity firm, is eyeing majority stake in Vadodara─based Sayaji Hotels Ltd after it unveiled an open offer to acquire 20 per cent stake in the mid─market hospitality chain.
Clearwater currently owns 8.48 per cent stake in Sayaji. It was recently reported that Clearwater was converting Sayaji's foreign currency convertible bonds (FCCBs), which it subscribed in 2006, into equity at Rs 75 per share. Clearwater's open offer period is between May 20 to June 8, 2010 and the offer is made at Rs 110 per share, Sayaji Hotels said in a stock exchange filing. Sayaji Hotels operates three properties in Vadodara, Indore and Pune. It has two subsidiaries, Barbeque Nation Hospitality and Malwa Hospitality.
Clearwater currently owns 8.48 per cent stake in Sayaji. It was recently reported that Clearwater was converting Sayaji's foreign currency convertible bonds (FCCBs), which it subscribed in 2006, into equity at Rs 75 per share. Clearwater's open offer period is between May 20 to June 8, 2010 and the offer is made at Rs 110 per share, Sayaji Hotels said in a stock exchange filing. Sayaji Hotels operates three properties in Vadodara, Indore and Pune. It has two subsidiaries, Barbeque Nation Hospitality and Malwa Hospitality.