Oriental Hotels to merge with Tata Group’s IHCL in all-stock deal

Mumbai: The Indian Hotels Company Limited (IHCL), India’s largest hospitality company belonging to the Tata Group, has announced that Oriental Hotels Limited (OHL) will be merged with it through a Scheme of Arrangement.

The Scheme proposes a share exchange ratio of 25 IHCL shares for every 117 OHL shares and is an all-stock transaction, the company said on Sunday.

OHL operates hotels under IHCL management and the merger is aimed at simplifying the group structure, it added.