August 25, 2016 7:48 PM ET

Industrial Conglomerates

Company Overview of Sahara India Pariwar Ltd.

Company Overview

Sahara India Pariwar Ltd., an industrial conglomerate, operates in life insurance plans, asset management services, mutual funds in debt and equity segments, and housing finance sectors. It also engages in building gated townships, luxury residences, leisure and entertainment facilities, indoor and outdoor sports facilities, restaurants and banquets, hotels, hospitals, and other residential and commercial building projects; acquiring and building national and international hotels, convention centers, golf resorts, and project investments; and providing real estate and lifestyle services. In addition, the company operates a power plant to generate power using bio-fuel; a crafts store and a co...

Sahara Shaher

Gomti Nagar

Lucknow 10

Lucknow,  226 010

India

Founded in 1978

Phone:

91 52 2230 4260

Fax:

91 52 2239 5411

Key Executives for Sahara India Pariwar Ltd.

Chairman and Managing Worker
Age: 63
Deputy Managing Worker and Vice Chairman
Age: 62
Executive Director
Age: 36
Head of Operation of Sahara India Product Division
Compensation as of Fiscal Year 2016.

Sahara India Pariwar Ltd. Key Developments

3 Associates Prune Bid For Sahara Hotels

3 Associates Capital Management Limited has decided to prune its bid for the Sahara India Pariwar Ltd.'s marquee hotels and will now offer $1.1 billion for Grosvenor House Hotel in London and The Plaza in New York, dropping plans to buy the Dream Downtown Hotel in New York. The family office had put in a $1.3 billion bid for the three hotels last month jointly with unidentified Saudi Arabian and UAE family offices, an offer that Sahara had said was below the market price. "We have now completed our due diligence and we will be removing Dream Downtown and resubmitting our bid at $1.1 billion in the next few days," said Jesdev Saggar, Managing Director of 3 Associates. Saggar said Dream Downtown was dropped to rationalize the bid and make it more compelling to the stakeholders.

Sahara To Lower Its Hotels Bid Price

Sahara India Pariwar Ltd. is making a “devious attempt" to lower the price for its marquee hotels and disturb the sentiment of potential bidders. Amid reports that a bidder has reduced the offer price for the properties. "We have no information of any such bid or offer," a Sahara spokesperson said in a statement and termed them as baseless cases.

Sahara India Seeks To Sell

Sahara India Pariwar Ltd. is seeking to sell its assets. The Supreme Court on Monday allowed Sahara India to sell its properties in the country and abroad to return money to its investors.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 2, 2016
Grosvenor House Hotel
 

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