Blackstone gets lenders nod to acquire bankrupt Golden Jubilee Hotels - Feedback

Blackstone Group has received the approval of the lenders to bankrupt Golden Jubilee Hotels to acquire the Hyderabad-based hotel firm that had shot into limelight after hosting Ivanka Trump last year.

This is the first deal where international institutional capital will be coming in for the financial resolution of any company under the Insolvency and Bankruptcy Code (IBC). The US private equity firm has offered to repay all the creditors in a phased manner. This will include a one-shot initial payment of Rs 350 crore.

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