Pamodzi Hotel shareholders execute agreement to sell 90 p.c. shares
Published On December 27, 2023 » 565 Views» By Times Reporter » Business, Stories
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By CHATULA KANGALI –
THE shareholders of Pamodzi Hotel have agreed to sell 90 per cent of the shares to ASB Hospitality of United Arab Emirates (UAE) at a consideration price of $18 million.
The sale and purchase of 90 per cent of shares in Pamodzi Hotel has been executed between the majority shareholders Tata International Singapore Pte Ltd (“TISPL”)and Indian Hotel Company Limited (IHCL),
TISPL agreed to sell its controlling shareholding to ASB Hospitality at a consideration of $18 million transaction.
This is according to a cautionary announcement posted by the Lusaka Securities Exchange Commission (LuSE).

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