Indian Hotels Company, which runs hotels under Taj, Vivanta and Ginger brands partnered with Singapore's wealth fund GIC to invest ₹4,000 crore for buying hotels in India.
The equity contribution of Indian Hotels in the acquisitions will be 30% and GIC's will be 70%.
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The partners will acquire fully-operational hotels mainly in the luxury, upper scale and upscale segments.
About Singapore
President: Halimah Yacob
Prime Minister: Lee Hsien Loong
Capital: Singapore
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