Asian Hotels Ltd (AHL) has informed that the Board of Directors of the Company at its meeting held on October 30, 2007, has decided to invest, through its wholly owned subsidiaries, up to a sum of Rs 200 crores in two separate Companies, each owning a hotel property.Both the investee Companies are private limited Companies in which certain directors are interested. The wholly owned subsidiaries of AHL shall make these investments based on the valuations of the assets of the investee Companies.Further, the Board of AHL authorised investment by way of acquisition of shares of its associate Company namely Regency Convention Centre & Hotels Ltd (RCC) from its existing shareholders for an investment of Rs 55 crores.
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