Wednesday, October 3, 2007

Mauritius gaming firm, UK IT firm and Small Industries Development Bank of India likely to buy 25% stake in Mennen Aviation and Hospitality

“We have already finalised an equity deal with Sidbi while negotiations are on with Pallagames (Mauritius-based gaming firm) and Trilogix (UK-based IT firm)."

"MAHL has plans to raise around Rs 150 crore through a mix of debt and equity for our expansion plans. We have plans to offload around 25% equity to raise part of the required funds,” said Dinesh Menon, managing director, Mennen Aviation and Hospitality (MAHL), a Mumbai-based, real estate, gaming and aviation services firm.

MAHL is currently developing around 100 acres of land in Mumbai, Goa and Karnataka. The firm is also setting up around 15 service apartments in these regions by 2012. The first project is coming up at Goa, which will be operational by the end of the year.

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