<article>Indian hotel investment and development firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=samhi" target="_blank">Samhi Hotels</a> will acquire a 19.07 per cent stake in Ascent Hotels for about $4 million.</article>

Indian hotel investment and development firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=samhi" target="_blank">Samhi Hotels</a> will acquire a 19.07 per cent stake in Ascent Hotels for about $4 million.
Samhi will get the equity from Pune-based Vascon Engineers, according to a market disclosure.
Ascent Hotels is a joint venture between the RK Jatia Group, which has a 81 per cent equity stake, and Vascon. After selling its interest, Vascon will remain an investor in the hotel chain through an agreement to subscribe to 6.7 million optionally convertible redeemable debentures, worth $4.5 million, and retain the option of converting them into equity shares of the same number.
Samhi, founded by Ashish Jakhanwala and Manav Thadani, is a private company that is into acquisition, development and ownership of branded hotels. Existing investors, who own a majority stake in the company, include  GTI Capital Group, International Finance Corporation and Equity International.
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Indian hotel investment and development firm Samhi Hotels will acquire a 19.07 per cent stake in Ascent Hotels for about $4 million.

India: Samhi Hotels to buy Vascon's stake in Ascent Hotels for $4m

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India: Samhi Hotels to buy Vascon's stake in Ascent Hotels for $4m

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