The Indian Hotels Company Limited entered into a term sheet to acquire Pamodzi Hotels Plc from Tata International Singapore Pte. Limited and others for $15 million.

The Indian Hotels Company Limited (BSE:500850) entered into a term sheet to acquire Pamodzi Hotels Plc (LUSE:PAMODZI) from Tata International Singapore Pte. Limited and others for $15 million on July 27, 2023. As per the terms, deal is contingent upon Tata International Singapore acquiring the remaining 10% stake in Pamodzi Hotels from other shareholders and delisting of Pamodzi.

Purchase consideration to be paid to Tata International in 3 tranches, 15% upon execution of Sale purchase agreement, 40% after 12 months and balance 45% after 24 months.