Kochhar & Co. Assisted the Sale of The Taj Gateway (Visakhapatnam) by Oriental Hotels Limited as a Business Transfer.

Deals & Matters
10 October 2018

Kochhar & Co. Chennai represented one of India’s leading public listed hospitality companies, Oriental Hotels Limited (OHL) in a significant transaction involving sale of one of its properties – The Gateway Hotel in Visakhapatnam, Andhra Pradesh.

The said transaction involved transfer of the Business Division viz, The Gateway Hotel, Beach Road Visakhapatnam. as a going concern, on an as is where is basis to Varun Hospitality Private Ltd (VHPL) as a Business Transfer.

With almost 48 years in the hospitality business, OHL was established under the technical and operational support of Indian Hotels Company Ltd (IHCL), the hospitality wing of the Tata Group. OHL currently owns around 9 hotels across Southern India and predominantly in Tamil Nadu. OHL is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India.

Kochhar & Co. Chennai Partner, Gaurav Chatterjee, Partner led the transaction.