PRESTIGE GROUP : ACQUIRES 50% STAKE IN ADVENT CONVENTION AND HOTELS INTERNATIONAL LIMITED FOR RS 504 CR

• Prestige Estates Projects Limited has entered into an investment agreement to acquire a 50% stake in Advent Convention and Hotels International Limited. • The company and/or its wholly owned subsidiary will infuse an amount of up to Rs 504 crores for the acquisition. • Advent Convention and Hotels International Limited is developing a commercial project on lands admeasuring 21,978.22 sq. mts. in Mumbai with a total leasable area of approx. 1.50 million sq. ft. • The project has a Gross Development Value of approx. Rs 4,500 Crores. • The acquisition is to be completed within 45 days from the date of the agreement.

Prestige Estates Projects Ltd

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