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Mar, 10 2014

KKR to lend money to hotel Leelaventure

The buyout firm will lend 2,000 crore to the hospitality group.

Kohlberg Kravis Roberts & Co, the globally renowned buyout firm to lend Rs 2,000 crore to Hotel Leelaventure Ltd for the term of two years. The funds from KKR will be paid to the banks while Leela will get two more years to set its affairs in order.

Promoted by Captain CP Krishnan Nair and partly owned by ITC, the hotel group has reached out to the buyout firm as it has been unable to raise resources as expected.

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