Blackstone, KKR, JM Financial Asset Reconstruction Company and Edelweiss Asset Reconstruction Company have bid for bankrupt Hyderabad-based Golden Jubilee Hotels Pvt. Ltd, The Times of India reported.
Golden Jubilee Hotels, which operates the Trident in Hyderabad, is currently undergoing bankruptcy proceedings at the National Company Law Tribunal.
Golden Jubilee Hotels is a special purpose vehicle formed for the development of two five-star hotel properties Trident and Oberoi at Hyderabad, according to a report by Care Ratings.
Trident had commenced operations in September 2013.
EIH Ltd, which operates hotels under Oberoi and Trident brand, holds around 16% stake in Golden Jubilee Hotels. The remaining is held by promoter entity Core Hotels Ventures Pvt. Ltd.
An investment arm of JPMorgan holds around 47% stake in Core Hotels Ventures.
Golden Jubilee Hotels has a debt of more than Rs 970 crore, according to the report.