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Minority shareholders to benefit from ITC Hotels demerger, will unlock value

Livemint

Livemint · 1y ago

Minority shareholders to benefit from ITC Hotels demerger, will unlock value

ITC's demerger of its hotel business into a separate entity, ITC Hotels, is expected to benefit minority shareholders by unlocking value and improving return ratios, according to proxy advisory firms. The demerger, approved by ITC's board last year, will allow ITC Hotels to operate with an optimal capital structure and attract strategic partners. Proxy firms InGovern, ISS, and SES have recommended voting in favor of the demerger, while Institutional Investor Advisory Services (IiAS) has suggested voting against it, citing incomplete value unlocking for shareholders.

Related News

Whatever is right will be done at the right time: Sanjiv Puri on ITC Infotech

Economic Times

Economic Times · 1m ago

Whatever is right will be done at the right time: Sanjiv Puri on ITC Infotech

ITC Chairman Sanjiv Puri stated that the company will assess strategic options for its businesses, including ITC Infotech, based on competitive context and value creation. There are no immediate plans for a demerger similar to ITC Hotels. Puri highlighted that decisions are aligned with strategic objectives and the company's diversified structure is a strength, emphasizing cost-efficient operations and value creation through strong governance and synergies across diverse verticals.

Optimal time to open, grow hospitality brands in India: ITC Hotels MD

Economic Times

Economic Times · 25d ago

Optimal time to open, grow hospitality brands in India: ITC Hotels MD

Anil Chadha, MD of ITC Hotels, describes the current period as optimal for expanding hospitality brands in India due to strong investor interest and changing customer needs. As ITC Hotels embarks on expanding its footprint domestically and overseas, Chadha noted the company's improved operational metrics, including occupancy rates. The demerger of ITC's hotel business has also facilitated exploring new ventures, including branded residences. ITC Hotels maintains a strong balance sheet, supporting both organic and inorganic growth.

Vedanta’s demerger plans may face hurdles from shareholders: Credit Sights report

Livemint

Livemint · 1y ago

Vedanta’s demerger plans may face hurdles from shareholders: Credit Sights report

Credit Sights, a Fitch Solutions Company, has warned that Vedanta Ltd's planned demerger of its businesses may face obstacles from minority shareholders and creditors. The demerger announcement was made in September 2023, but there have been few updates on its progress since then. Credit Sights believes the demerger could complicate Vedanta Resources Ltd's corporate structure and may not significantly address its debt obligations. It also highlighted potential challenges for Hindustan Zinc Ltd in obtaining the required shareholders' approval for the proposed demerger.

British American Tobacco awaiting RBI approval to check out of ITC Hotels

Economic Times

Economic Times · 18d ago

British American Tobacco awaiting RBI approval to check out of ITC Hotels

British American Tobacco (BAT) seeks Reserve Bank of India (RBI) approval to sell its 15.29% stake in ITC Hotels. As the largest shareholder, BAT aims to divest from the hotel sector, strategically reducing its ties following ITC's demerger. With ITC's tobacco-related restrictions influencing RBI approval, BAT awaits clearance to execute this foreign investment sale. The proceeds will help BAT reduce debt and enhance capital flexibility, aligning with its financial goals.

Vedanta going ahead with demerger of businesses: Anil Agarwal

YourStory

YourStory · 1y ago

Vedanta going ahead with demerger of businesses: Anil Agarwal

Vedanta chairman Anil Agarwal announced that the company is moving forward with its proposed demerger plans, which will result in the formation of six separate companies. The company has obtained approval from most of its creditors for the demerger, which is a significant step towards creating six independent listed firms. Agarwal emphasized that each entity will maintain Vedanta's core values and global leadership but will have more autonomy in terms of capital allocation and growth strategies. The demerger aims to unlock substantial value and expand Vedanta's investor base. Furthermore, Agarwal highlighted the company's significant investments and future growth projects.

Tata Motors to demerge commercial and passenger vehicle businesses

Thehindubusinessline

Thehindubusinessline · 1y ago

Tata Motors to demerge commercial and passenger vehicle businesses

Tata Motors will separate its passenger vehicles and commercial vehicles businesses into two distinct entities through a demerger. This move aims to unlock value for the company's businesses and enable each entity to pursue its strategies independently. The demerger follows a series of decisions by Tata Motors to run its different businesses separately, including appointing separate CEOs for each unit. Analysts believe the demerger will cushion the passenger vehicle business from the cyclical nature of the commercial auto market and allow the company to leverage synergies in the passenger vehicle business, particularly in the areas of electric vehicles, autonomous vehicles, and vehicle software.

Vedanta gets approval from 75% of its secured creditors to proceed with demerger

Money Control

Money Control · 1y ago

Vedanta gets approval from 75% of its secured creditors to proceed with demerger

Mining conglomerate Vedanta has received approval from 75% of its secured creditors for its proposed demerger plan. This marks a significant milestone in Vedanta's plan to split into six independent listed companies. The next step for Vedanta is to seek clearance from stock exchanges and file the demerger plan with the National Company Law Tribunal. The demerger will create independent companies for various businesses, with shareholders receiving shares in these new entities. Vedanta's recent progress in deleveraging includes raising Rs 8,500 crore through a Qualified Institutional Placement.

ITC Hotels plans to expand portfolio to over 220 units by 2030

Economic Times

Economic Times · 1m ago

ITC Hotels plans to expand portfolio to over 220 units by 2030

ITC Hotels Ltd plans to expand its portfolio to over 220 units, surpassing 20,000 keys by 2030, mainly through management contracts and franchise arrangements. The company aims to grow with asset-light strategies and strong partnerships, leveraging its brand credentials. In the past two years, it launched 30 hotels, primarily managed and franchised in India and Nepal. ITC Hotels is among India's fastest-growing hospitality chains with over 140 properties across six brands.

ITC Hotels to cross 220 properties by 2030 as room demand outpaces supply, says Sanjiv Puri

Economic Times

Economic Times · 17d ago

ITC Hotels to cross 220 properties by 2030 as room demand outpaces supply, says Sanjiv Puri

ITC Hotels is set to surpass its target of 200 hotels by 2030, now aiming for over 220 properties. Chairman Sanjiv Puri attributes this growth to rising demand, higher occupancy rates, and improved international tourist count. The hospitality industry in India is experiencing robust growth due to increasing societal aspirations, digital transformation, and economic development. ITC Hotels, focusing on tier 2 and 3 cities, plans to address India's low hotel room penetration compared to global averages.

Adani Enterprises to transfer Adani Wilmar stake to its shareholders | Mint

Livemint

Livemint · 1y ago

Adani Enterprises to transfer Adani Wilmar stake to its shareholders | Mint

Adani Enterprises plans to transfer its stake in Adani Wilmar to its shareholders, which will end its joint venture with the Wilmar Group and simplify the group's shareholding structure. Shareholders of Adani Enterprises will receive 251 shares of Adani Wilmar for every 500 Adani Enterprises shares they hold. This move will unlock value for shareholders and allow Adani Enterprises to focus on its other incubating businesses. Adani Enterprises reported a 2-fold increase in consolidated net profit for the April-June quarter, driven by the performance of its ANIL ecosystem, airport operations, and road construction business.

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