Reported 2 days ago
Singapore's sovereign wealth fund, GIC, has announced a $300 million joint venture with SAMHI Hotels to expand its presence in India's hospitality sector. GIC will acquire a 35% stake in three SAMHI subsidiaries and will focus on developing upscale hotels in major Indian cities. This investment follows GIC's previous partnership in 2019 with Taj Hotels and aims to strengthen SAMHI's balance sheet, reduce debt, and grow their hotel portfolio.
Source: YAHOO