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Hotel Leelaventure on Monday entered into a binding agreement with real estate fund Brookfield Asset Management, to sell four hotels located at Bangalore, Chennai, Delhi and Udaipur, as well as a property in Agra. It also includes assignment of all hotel management contracts currently in operation and under development, along with employees. The transaction value is ₹3,950 crore. Besides, promoters would also transfer the Leela brand to Brookfield for all hospitality business.
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