M&A

M&A

Omkara ARC acquires Park Hyatt Hyderabad's bad loans for Rs.300-Cr

Economic Times  

Manish Lalwani-promoted Omkara ARC has acquired Park Hyatt Hyderabad's loans for INR 300 crore from lenders at a 34% discount from sellers that included BlackRock and JM Financial.The all-cash deal involved Omkara paying INR 300 crore to buy the INR 450 crore principal outstanding of Park Hyatt in Hyderabad, a 5-star luxury hotel consisting of more than 200 rooms including 25 suites and 40 serviced apartments in Hyderabad. The total debt outstanding including interest and principal is INR 700 crore.