Dubai invests in Indian hotel firm

by Reuters Sunday, 27 May 2007

Government-owned Dubai Investment Group said on Saturday its investment unit had agreed to buy a 5 % stake in Indian hotel company Bharat Hotels Ltd.

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Dubai Ventures would pay $40 million for the stake, Dubai Investment said in a statement.
Dubai Ventures focuses on equity investments in Asia, it said.

Bharat Hotels operates InterContinental hotels across Indian, including New Delhi, Mumbai, Goa and Srinagar.



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