Euronext-listed Yatra Capital Ltd said its unit, K2 Property Ltd, has bought Eredene Mauritius Ltd from Eredene Capital PLC for 18.07 mln eur.
The company said the acquisition — part of its 29.98 mln eur real estate investment plan in India — will provide it with a number of high quality real estate projects in the country.
This includes a conditional term sheet to invest in the development of a five-star hotel and service apartments in Bangalore with a 50 pct stake.
Yatra now has investments worth 51.58 mln eur in real estate projects in India, representing 51.58 pct of the 100 mln eur gross funds it raised when it listed in December last year.
Recently, the company acquired a 49 pct stake in a real estate joint venture development company in India for 21.6 mln eur.
Source : Hemscot