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Gate Gourmet buys stake in Skygourmet

Saturday, 13 Nov 2010
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Gate Gourmet, a Zurich based airline catering and logistics provider, has acquired a 74 per cent interest in Skygourmet, a division of India Hospitality Corporation (IHC). IHC will retain 26 per cent interest in Skygourmet.

The deal has been signed for a sum of $39 million (approx Rs 171.6 crore). The funds have been arranged through a combination of cash and assumption of debt.

Skygourmet operates in Mumbai, Delhi, Bengaluru, Chennai and Hyderabad and is in the process of constructing a new unit in Kolkata.

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